Mt. Gox Moves 10,423 Bitcoin After Six Months, Transfers $8.25 Million to Hot Wallet

Wallets linked to bankrupt cryptocurrency exchange Mt. Gox moved a large amount of Bitcoin for the first time in about six months.

On-chain analyst ai_9684xtpa wrote on June 2 that a Mt. Gox cold wallet transferred 10,423 BTC to a new address. The holdings were worth about $739 million at current prices.

Mt. Gox also transferred 116 BTC, worth about $8.25 million, to its own hot wallet.

Mt. Gox went bankrupt after about 850,000 BTC was stolen in a 2014 hack. It began repaying creditors in 2024 after years of legal proceedings. The repayment deadline has been extended to Oct. 31 as creditor verification and administrative procedures have taken longer than expected.

A substantial number of creditors have already received Bitcoin. About 34,000 BTC is now being distributed in stages to creditors who have yet to receive repayment.

The transfer was the first major on-chain movement confirmed since late last year. Market participants are watching for additional wallet transfers and whether more creditor distributions follow.