Mt. Gox Wallet Moves $222M in Bitcoin Amid Uncertainty Over Future Payouts

According to Arkham Intelligence, a wallet associated with the defunct Mt. Gox exchange transferred 2,500 Bitcoin (around $222 million) to a new address.

This transaction aligns with Bitcoin’s recent surge to nearly $89,000, as shown in CoinGecko’s latest data.

Despite this recent activity, Mt. Gox still retains approximately 44,378 BTC – valued at around $3 billion—within its remaining wallets. This transfer comes shortly after a larger transaction on November 5, where 32,371 BTC (worth roughly $2.2 billion) was moved to an undisclosed address. These transactions continue to capture market interest as the exchange’s repayment to former users remains incomplete.

The timeline for finalizing repayments has been extended; originally set to wrap up by October 31, 2024, it’s now postponed to October 31, 2025, to allow more time for claim verification and processing. While some creditors have reported receiving fiat reimbursements, many continue to wait for their full repayments in Bitcoin or Bitcoin Cash.

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Historically, large movements from Mt. Gox wallets have influenced Bitcoin’s price, though recent transfers seem to have less impact. After the latest significant transfer this month, Bitcoin briefly fell below $68,000 but has since rebounded, gaining over 30% amid shifts in global monetary policies and political developments.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.