Mt. Gox Moves Over $480 Million in Bitcoin Amid Market Surge

In recent developments, a wallet tied to the defunct Mt. Gox exchange transferred over 2,300 Bitcoin, equivalent to around $234 million, to an undisclosed address early on Thursday.

This move follows Bitcoin’s recent climb past $100,000, driven by optimism surrounding potential rate cuts from the Federal Reserve following the latest inflation report.

This transaction is part of a larger series of movements this month. On Wednesday, over 2,600 Bitcoin, valued at approximately $255 million, was moved from the Mt. Gox-associated wallet to several different addresses. Notably, $10 million of the transfer ended up with the over-the-counter (OTC) trading firm B2C2, with the remaining funds spread across other addresses.

Earlier this month, Mt. Gox made headlines with two significant Bitcoin transfers — one on December 5th, where $2.4 billion worth of Bitcoin was moved, followed by a $350 million transfer the next day. These actions leave the Mt. Gox wallet with roughly 36,000 BTC, which is valued at around $3.6 billion.

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While the reason for these transfers remains unclear, similar past actions have often preceded repayment processes for creditors, typically facilitated through well-known exchanges like Bitstamp or Kraken. Mt. Gox, which has been embroiled in repayment plans for years, recently pushed back its repayment deadline by a year, now scheduled for October 31, 2025.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.