Selling quickly at a new high? Mt. Gox transfers $2 billion in Bitcoin to two addresses

The bankrupt cryptocurrency exchange Mt. Gox conducted a large Bitcoin transfer on Sunday, totaling over $2 billion, which may indicate that the next round of creditor repayments is about to begin.

According to Arkham Intelligence data, at 11:39 pm UTC on Sunday (three hours ago), a wallet labeled "1FG2C... Rveoy" transferred approximately 27871 btc, worth about $2.24 billion, to a new wallet "1Fhod... QLFRT" and another 2500 BTC (worth about $200 million) to Mt. Gox's cold wallet. This sending wallet received a total of 30371 BTC from Mt. Gox six days ago.

Since the end of October, the remaining Bitcoin from Mt. Gox has been continuously transferred, and these funds have been stagnant for over a month. Although it is currently uncertain whether Monday's transfer is part of Mt. Gox's future repayment plan, similar fund movements in the past often indicate repayment activities through centralized exchanges including Bitstamp and Kraken. Arkham's data shows that Mt. Gox currently holds 44378 BTC.

Mt. Gox was founded in 2010 and was once the world's largest Bitcoin exchange until 2014 when it suffered a major security breach, with at least 850000 bitcoins stolen, leading to the platform's collapse. Since then, thousands of creditors have been waiting for the return of Bitcoin, and the related repayment procedures have gradually begun in the past few months.

Last month, Mt. Gox announced that it would postpone its repayment deadline from October 31, 2024 to October 31, 2025, which has also raised more expectations among creditors regarding the process of returning funds. With the transfer of $2 billion in Bitcoin, the market is speculating whether Mt. Gox is ready for a new round of creditor repayments.

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