The estate of Mt. Gox, the once-dominant cryptocurrency exchange, has moved 500 BTC (approximately $35.04 million) to two unmarked wallets, according to data from blockchain analytics firm Arkham. The transactions took place on Friday just before 1 a.m. UTC, marking Mt. Gox’s first transfer since late September.
In the transaction, Mt. Gox sent 31.78 BTC to one address and 468.24 BTC to another. The funds were further redistributed, though the destination wallets remain unidentified. While the purpose of these transfers is unclear, prior movements from the Mt. Gox estate have often been linked to repayments to creditors via partner exchanges such as Bitstamp and Kraken.
The transfers come just weeks after Mt. Gox postponed its repayment deadline from October 31, 2024, to October 31, 2025. This extension has left thousands of creditors still awaiting restitution following the exchange’s historic collapse in 2014. At the time, Mt. Gox lost over 850,000 BTC to a security breach, leaving it insolvent. Currently, the estate holds 44,905 BTC, worth over $3.1 billion, earmarked for future distributions.
