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