The now-defunct Japanese cryptocurrency exchange Mt. Gox generated significant attention early on Tuesday, as it moved substantial amounts of bitcoin (BTC) to two different wallets, as reported by on-chain data analysis platform Arkham Intelligence.
The exchange’s address sent 893 BTC (valued at $78.11M) to its hot wallet identified as 1Jbez and transferred 10,608 BTC (worth $927.48M) to a change wallet known as 1DcoA during the early Asian trading hours on Tuesday, when the cryptocurrency was trading above $87,000 in the spot market.
This marks the third notable on-chain transaction made by the exchange in just four weeks.
Earlier, the exchange relocated over $900 million in BTC on March 11 and more than $1 billion in BTC on March 6. Despite these recent transactions, the latest movement of coins does not seem to have affected the spot price, as observed earlier this month.
This situation is in stark contrast to mid-last year when transfers from Mt. Gox raised concerns about potential creditor liquidations, resulting in market volatility.
Additionally, in October, the exchange announced an extension of its full creditor payout deadline by an entire year, pushing it to October 31, 2025, due to ongoing verification and processing needs for claimants.
