Bankrupt Mt. Gox has executed a significant Bitcoin transaction for the first time this year, igniting speculation regarding its future actions.
On March 6, the blockchain analytics company Arkham Intelligence reported that the defunct exchange transferred 11,834 BTC—approximately valued at $1.07 billion at that time—to a new wallet address. Furthermore, 166.5 BTC was moved to its cold storage wallet.
Despite these transactions, the exchange retains approximately 36,000 BTC, which is valued at over $3.3 billion, according to data from Arkham Intelligence.
Meanwhile, this recent transfer marks the exchange’s first significant asset movement in three months and has sparked discussions within the crypto community. Some speculate that the exchange may be planning to sell Bitcoin, potentially taking advantage of the market’s upward trend. Conversely, others suggest that this movement could be linked to ongoing repayments to creditors.
Mt. Gox began repaying creditors last year, nearly ten years after it ceased operations due to a hack that resulted in the loss of around 850,000 BTC. By August 2024, it had redistributed Bitcoin and Bitcoin Cash to approximately 21,000 creditors through platforms such as Kraken, Bitstamp, and BitGo.
Despite these repayments, the rehabilitation trustee has extended the final repayment deadline to October 31, 2025, citing the necessity of additional time to finalize distributions.
