Mt. Gox Moves $2B in Bitcoin

On November 10, the now-defunct exchange Mt. Gox made a significant transfer of over $2 billion to two different addresses.

This movement of funds is one of the largest to occur from Mt. Gox’s remaining reserves, creating even more complexity in the ongoing process of restitution for the exchange’s creditors, a process that has been ongoing for over a decade.

According to data from Arkham Intelligence, one of Mt. Gox’s wallets, known as “1FG2C…Rveoy,” transferred approximately 27,871 BTC (equivalent to $2.24 billion) to a new wallet.

At the same time, another transfer of 2,500 BTC (worth around $200 million) was deposited into a Mt. Gox cold wallet. It is worth noting that Mt. Gox still holds an additional 44,378 BTC.

This recent activity in the exchange’s wallets, which had been dormant for over a month, began to show movement at the end of October.