Defunct crypto exchange Mt. Gox transferred over 30,000 BTC, valued at roughly $2.4 billion, across two wallets on Monday, according to blockchain analytics firm Arkham. The transfer happened as Bitcoin continued its recent price surge, reaching above $81,000 over the weekend. Trustees moved more than 30,000 BTC from wallet “1FG2C…Rveoy” to a newly created wallet “1Fhod…LFRT,” and an additional $200 million to a Mt. Gox cold storage wallet.
Historically, such transfers signify consolidation of holdings to new addresses, often as a precursor to moving assets to exchanges for eventual sale. Last week, “1FG2C…Rveoy” received the most significant BTC inflow among Mt. Gox wallets, showing a pattern of asset movement and reorganization.
Founded in 2010, Mt. Gox once dominated global crypto trading, handling over 70% of Bitcoin transactions before a 2014 hack resulted in the loss of an estimated 740,000 BTC (worth more than $15 billion today). Trustees managing the remaining assets are working on a repayment plan with an October 31, 2025, deadline, according to the latest court filings.