The long-defunct exchange Mt. Gox launched a large on-chain bitcoin move on Monday, moving approximately 10,608 BTC, worth $950 million, to a new wallet address, according to data from blockchain analytics firm Arkham Intelligence.
The transfer took place around 11:40 p.m. ET, with approximately 10,422 BTC sent to an unidentified address titled “1ANkD…ojwyt”, while a smaller portion of approximately 185.5 BTC was sent back to Mt. Gox’s own hot wallet.
Historically, such large BTC moves by Mt. Gox have typically presaged repayments to creditors who lost funds during the 2014 stock market collapse.
While it is not yet clear whether the recent transfer is directly related to creditor repayments, the timing is particularly unfortunate given BTC’s current downtrend that has seen prices plummet below $90,000. This chain move may have added to market speculation about impending creditor repayments and potential sales that could follow.
Mt. Gox suffered a hack in early 2014, losing approximately 850,000 BTC, which forced the company into bankruptcy. Reimbursement efforts began last year with a deadline for applicants in 2026. The exchange still holds around 34,689 BTC, worth nearly $3.1 billion, across various wallets, according to Arkham data.
