Massive Bitcoin Transfer from Mt. Gox Wallets
On March 6, the dormant Mt. Gox exchange moved $1 billion worth of Bitcoin. This is its first major transaction in over a month. Blockchain analytics firm Arkham Intelligence spotted the transfer of 12,000 BTC from a Mt. Gox-linked wallet.
The transaction cost only $1.64 in fees. It sent 166.5 BTC to mt.Gox’s cold storage, while the rest went to an unknown wallet. Now, Mt. Gox-affiliated wallets hold around 36,080 BTC, valued at about $3.26 billion.
This activity comes after a minor 4 BTC transfer in January. In December, Mt. Gox moved 1,620 BTC through unidentified addresses. The reason for these transactions is unclear.
Mt. gox, once the largest Bitcoin exchange, collapsed in 2014 after losing over 800,000 BTC. Creditors are still waiting for repayments. The deadline for these payments was recently extended to October 31, 2025.
While past Bitcoin movements from Mt. Gox caused market reactions,the latest transfer hasn’t considerably affected BTC prices. Traders are still cautious about possible sell-offs if full repayments start.
Simultaneously occurring, U.S. President Donald Trump’s trade tariffs, which began on March 4, are causing volatility in the crypto market. This week, bitcoin prices fluctuated, peaking at $94,769 on March 3 and falling to $82,681 on March 4. As of now, Bitcoin is trading at $91,224, up 4% in the last 24 hours.
