The bankrupt cryptocurrency exchange Mt. Gox has resumed transferring Bitcoin, moving 12,000 BTC during a week marked by significant market fluctuations.
On March 6, Arkham Intelligence notified its followers on X that the Mt. Gox wallet (1PuQB) transferred 12,000 coins (BTC) valued at just over $1 billion, incurring a transaction fee of $1.64.
Additionally, 166.5 BTC, representing approximately $15 million, was directed to the Mt. Gox cold wallet (1Jbez), while the remaining assets were sent to an unidentifiable wallet (1Mo1n), which now holds 11,834 BTC.
Currently, entities associated with Mt. Gox possess a total of 36,080 BTC, equivalent to around $3.26 billion, as per Arkham’s data.
This marks the first Bitcoin transaction from Mt. Gox-related wallets in a month, with the previous activity being the transfer of 4 BTC between cold wallets. The purpose of this latest transaction remains uncertain.
In December, Mt. Gox moved about 1,620 Bitcoin through various unknown wallets less than two weeks after transferring over 24,000 BTC.
Recent transaction details from the Mt. Gox wallet. Source: Arkham Intelligence
The exchange declared bankruptcy in early 2014, and previous transfers of its Bitcoin holdings have been associated with creditor distributions, which commenced in 2024.
In October of last year, the trustee managing the Bitcoin reserves of the bankrupt exchange extended the creditor repayment deadline by a full year, rescheduling it for October 31, 2025.
Related: Mt. Gox repayments won’t adversely affect Bitcoin as you might think
This development comes during a week characterized by heightened volatility in the crypto markets, spurred by U.S. President Donald Trump’s trade tariffs effective March 4, which have unsettled high-risk assets.
Bitcoin fluctuated significantly, peaking at $94,770 on March 3 and dipping to $82,681 on March 4 before recovering to $90,000 on March 5.
As of the time of this writing, the asset was trading at $90,162, reflecting a gain of approximately 4% over the preceding 24 hours, according to CoinGecko.
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