Mt. Gox Moves Funds from Cold Wallets for First Time in 5 Years

Early on Tuesday, the now-defunct cryptocurrency exchange Mt. Gox transferred approximately 107,000 Bitcoin, worth around $7.2 billion, according to data from Arkham Intelligence.

The transfers, which were sent to an anonymous wallet, came ahead of Mt. Gox’s planned schedule to reimburse creditors for their BTC holdings by October.

According to Arkham, the transactions took place between 1:41 AM and 4:46 AM UTC on May 28, with most transfers consisting of around 2,000 BTC each.

This coincided with a slight drop in Bitcoin’s price, from a high of $70,600 on Monday to $67,787. Mt. Gox, once a major player in the global Bitcoin market, was founded in 2010.