Mt. Gox Moves $1B in Bitcoin

Defunct Japanese crypto exchange Mt. Gox made headlines early Tuesday by moving substantial amounts of Bitcoin to two wallets, as reported by on-chain data platform Arkham Intelligence.

The exchange’s address transferred 893 BTC ($78.11M) to its hot wallet, labeled 1Jbez, and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during early Asian trading hours, when Bitcoin was trading above $87,000.

This marks the third major on-chain activity by the exchange in four weeks. Previously, over $900 million in BTC was moved on March 11 and over $1 billion on March 6. Despite these large movements, the spot price remained unaffected this time, unlike mid-last year when similar transfers caused fears of creditor liquidations and price volatility.