Mt. Gox Moves Over $170M in Bitcoin to New Addresses

Mt. Gox has transferred approximately $172.5 million worth of Bitcoin to an unfamiliar wallet shortly after the cryptocurrency reached a record high of $108,000.

According to Arkham Intelligence, the exchange made two separate transfers, totaling 1,619.6 BTC, to untagged addresses on December 17. One of the transfers, consisting of 1427.9 BTC, ended up in a wallet labeled “1DeY” after going through another transfer of approximately 108 BTC.

The remaining 191.7 BTC and the initial 108 BTC were then transferred through numerous wallets before ultimately landing in a wallet labeled “1KLr,” which currently holds 300 BTC. The reason for Mt. Gox’s transfer of funds is unclear.

The exchange previously declared bankruptcy in 2014, and its previous movements of Bitcoin have been linked to creditor payouts.