Bankrupt crypto exchange, Mt. Gox has made headlines today after moving exactly 32,371k BTC to another external wallet. According to data from Arkham Intelligence, the transfer, which totals $2.19 billion, originated from a cold wallet labeled “12GWs” to an unknown wallet beginning with “1FG2Cv.” Following the transfer, the defunct exchange still holds a staggering 44,378 BTC in its coffers, equivalent to approximately $3 billion.
Notably, the transfer coincided with a plunge in the BTC price to $66k earlier today. However, the flagship cryptocurrency has recovered some of its losses and is now changing hands at $68,629 according to on-chain data. Even though the exchange’s trustee has not clarified the reason for the transfer, many believe it is in line with its creditor repayment plan. Mt.Gox kicked off the repayment program in July this year and has since paid off a significant number of its users.
Meanwhile, the Rehabilitation Trustee has extended the deadline for completion of payment by a year, till October 2025. According to the Trustees, the extension was necessary because some creditors had faced technical issues and had failed to complete their mandatory repayment requirement process.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.