Bitcoin

Arkham

Mt. Gox, a long-bankrupt crypto exchange, transferred about $172.5 million worth of Bitcoin to an unknown wallet less than 24 hours after the cryptocurrency hit a new high of almost $108,000.
Arkham Intelligence <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/tx/3a6b1c9956c37772d7bf702ce6ebd6eec081e746a55ec2f737d2bd927d94d9f0" rel="null" target="null" text="null" title="null">shows</a> the exchange moved 1,619.6 Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) to two untagged addresses on Dec. 17, split between a 1427.9 BTC and a 191.7 BTC transfer.&nbsp;
A portion of the 1427.9 BTC transfer ended up in a <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/address/1DeYFXn4VD89mSz1JkWDFscGrrHSW4bdZp" rel="null" target="null" text="null" title="null">wallet</a> starting with “1DeY” after moving through <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/tx/7eb6fa8e13fc57269d660673792e76eb69bd5135094613b2308f715fbee99d7c" rel="null" target="null" text="null" title="null">another</a>, less about 108 BTC.&nbsp;
The 108 BTC and the 191.7 BTC then <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/address/bc1q6frdcfu7afz5ywmw406wektlar69mvj6ptrpzz" rel="null" target="null" text="null" title="null">cycled</a> <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/address/bc1q7tj9nfwp64rhd3gyq6997yezlew4gx9ksvr6v8" rel="null" target="null" text="null" title="null">through</a> several wallets before ending up at a <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/address/1KLrcszVNVmcNk8KkiXYxrqdznQoJZDGug" rel="null" target="null" text="null" title="null">wallet</a> starting with “1KLr,” which currently holds 300 BTC.
It’s unclear why <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/the-mt-gox-bitcoin-heist" rel="null" target="null" text="null" title="null">Mt. Gox</a> moved the funds. The exchange fell into bankruptcy in early 2014, and past movements of its Bitcoin holdings have been followed by <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-whales-accumulating-mt-gox-distribution" rel="null" target="null" text="null" title="null">creditor payouts</a>.
<figure>
 <img alt="Mt. Gox transfers $172M Bitcoin to new wallets as BTC hovers near $107K" src="https://s3.cointelegraph.com/uploads/2024-12/0193d313-ad4b-746d-ba91-2a22e91063c1" title="">
 <figcaption style="text-align: center;">
 A Mt. Gox wallet moved about 1619.6 BTC to two addresses before a portion was cycled through other wallets. Source: <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/tx/3a6b1c9956c37772d7bf702ce6ebd6eec081e746a55ec2f737d2bd927d94d9f0" rel="null" target="null" text="null" title="https://intel.arkm.com/explorer/tx/3a6b1c9956c37772d7bf702ce6ebd6eec081e746a55ec2f737d2bd927d94d9f0">Arkham Intelligence</a>
 </figcaption>
</figure>
The latest moves come after Mt. Gox on Dec. 5 <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mt-gox-moves-30k-bitcoin-after-hits-100k" rel="null" target="null" text="null" title="null">shuffled over 24,000 Bitcoin</a>, worth nearly $2.5 billion at the time, to an unknown address just 12 minutes after the cryptocurrency crossed $100,000 for the first time.
Arkham <a data-ct-non-breakable="null" href="https://intel.arkm.com/explorer/entity/mt-gox" rel="null" target="null" text="null" title="null">data</a> shows the historic exchange still holds about 36,085 BTC worth $3.86 billion across wallets it controls. Mt. Gox creditors can receive their payouts in Bitcoin if preferred.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-sets-new-all-time-high-above-105000" rel="null" target="null" text="null" title="null">Bitcoin goes ’Santa Claus mode’ as optimism grows for US reserve status</a>&nbsp;
Bitcoin has traded above $100,000 since Friday, Dec. 13, and Mt. Gox’s latest move — usually <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mt-gox-bitcoin-dump-fear-concern-overblown-analysts" rel="null" target="null" text="null" title="null">seen as bearish</a> — seemed to have no effect as BTC has traded flat on the day at around $106,500 after hitting a fresh high of $107,857 late on Dec. 16, <a data-ct-non-breakable="null" href="https://www.tradingview.com/chart/9TERcreT/?symbol=COINBASE%3ABTCUSD" rel="nofollow noopener" target="_blank" text="null" title="https://www.tradingview.com/chart/9TERcreT/?symbol=COINBASE%3ABTCUSD">per</a> TradingView.
In October, the trustee in charge of the bankrupt exchange’s Bitcoin stack pushed the deadline for creditor repayments <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mt-gox-pushes-repayment-plan-deadline-to-october-2025" rel="null" target="null" text="null" title="null">by a full year</a> to Oct. 31, 2025.&nbsp;
It said many of those it owed “still have not received their repayments because they have not completed the necessary procedures for receiving repayments.”
Deposit risk: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/deposit-risk-crypto-exchanges-money/" rel="null" target="null" text="null" title="null">What do crypto exchanges really do with your money?</a>&nbsp;

Mt. Gox transfers $172M Bitcoin to new wallets as BTC hovers near $107K

Cointelegraph

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