Mt. Gox, the now-defunct Japanese cryptocurrency exchange, made headlines once again as it transferred significant amounts of bitcoin to two wallets earlier this week. According to data from Arkham Intelligence, the exchange moved 893 BTC ($78.11M) to its hot wallet labeled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during the early Asian trading hours on Tuesday.
This recent activity marks the third major movement of funds by Mt. Gox in just four weeks. In March alone, the exchange transferred over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. Despite these large transactions, the spot price of bitcoin has not been significantly impacted so far.
This is a stark contrast to the situation last year when Mt. Gox’s movements of coins caused fears of creditor liquidations and led to price volatility in the market. However, the exchange announced last October that it would extend its complete creditor payout deadline to October 31, 2025, citing ongoing verification and processing requirements for claimants.
The recent movements of bitcoin by Mt. Gox have once again drawn attention to the exchange and its handling of funds. While the market has not reacted negatively to these transfers, investors will be watching closely to see if any further actions by Mt. Gox will impact the price of bitcoin in the future.