Defunct Exchange Mt. Gox Moves $1B in Bitcoin to Two Wallets

Defunct Japanese crypto exchange Mt. Gox made waves early Tuesday, moving large amounts of BTC$90,993.53 to two wallets, according to on-chain data tracking platform Arkham Intelligence.

The address associated with the exchange transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during Tuesday's early Asian trading hours when the cryptocurrency traded above $87,000 in the spot market.

The latest action is the exchange's third significant on-chain movement of funds in four weeks.

The exchange moved over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. However, the latest coin shuffling has not impacted the spot price so far, as seen early this month.

That's in stark contrast to mid-last year, when Mt. Gox's transfer of coins spurred fears of creditor liquidations, causing price volatility.

However, last October, the exchange extended its complete creditor payout deadline by a full year to Oct. 31, 2025, citing ongoing verification and processing requirements for claimants.