On November 1, the now-defunct Mt. Gox crypto exchange transferred 500 Bitcoins (BTC), valued at approximately $35.04 million, to various unknown addresses. Data from Arkham Intelligence indicates the transaction was initiated from a Mt. Gox cold wallet, directed to an address beginning with “12cTj” at 00:42 UTC.
The purpose of this transaction remains unclear, with analysts speculating if it may signal a new compensation round. According to Arkham, around 44,900 BTC (about $3.11 billion) still reside in Mt. Gox’s wallets awaiting creditor compensation.
Following the initial transfer, two additional transactions of 31.78 BTC and 468.24 BTC were made to undisclosed addresses. This marks the first major movement from Mt. Gox-linked wallets in the past month. In a previous report, Mt. Gox transferred over $855 million in BTC in August, split into two large transactions—$74 million to an internal wallet and $784.2 million to an unidentified address.
In July, the exchange, which collapsed in 2014, moved $2.5 billion worth of Bitcoin. Data from Glassnode noted that of the recovered 142,000 Bitcoin, around 59,000 have been distributed to creditors via the Kraken and Bitstamp exchanges.
Repayment Deadline Extended to 2025
Last month, the Mt. Gox Rehabilitation Trustee extended the distribution deadline for remaining assets by another year, now scheduled for October 31, 2025. The delay stems from many creditors not completing necessary claim procedures.
Mt. Gox’s asset repayments and Bitcoin liquidations continue to fuel concerns about potential impacts on Bitcoin’s spot prices. After recently reaching a 90-day high of $73,295 on October 30, Bitcoin’s price has since corrected by 5.5%, briefly dipping to $69,000.
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