Bankrupt Mt. Gox Moves 12,000 BTC: Uncertainty Continues

The bankrupt crypto exchange Mt. Gox has resumed Bitcoin transfers. In a tumultuous week shaken by market volatility, the exchange moved 12,000 BTC.

On March 6, Arkham Intelligence alerted its users on X that 12,000 BTC were transferred from the Mt. Gox wallet (1PuQB). The transfer, valued at approximately $1 billion, incurred a transaction fee of just $1.64.

At the same time, 166.5 BTC (worth around $15 million) was sent to Mt. Gox’s cold wallet (1Jbez), while the remaining assets were moved to an unidentified wallet (1Mo1n), which currently holds 11,834 BTC.

According to Arkham data, Mt. Gox-linked wallets still hold approximately 36,080 BTC, with a total value of about $3.26 billion.

This marks the first major Bitcoin transfer from Mt. Gox-linked wallets in a month, with the previous transfer involving just 4 BTC between cold wallets. The purpose of this latest transaction remains unclear.

In December, Mt. Gox moved around 1,620 BTC through a series of unknown wallets, just two weeks after transferring over 24,000 BTC in a similar manner.

Mt. Gox, which filed for bankruptcy in early 2014, has periodically moved its Bitcoin holdings over the years. Some of these transfers have been followed by creditor payouts, which began in 2024.

Last October, the trustee managing Mt. Gox’s Bitcoin reserves extended the deadline for creditor repayments by a full year, pushing it to October 31, 2025.

Mt. Gox’s Move Comes Amid a Week of Market Volatility

This latest move by Mt. Gox coincides with a week of heightened volatility in the crypto markets. U.S. President Donald Trump’s trade tariffs, which came into effect on March 4, increased volatility in high-risk assets.

Bitcoin surged to $94,770 on March 3, before dropping to $82,681 on March 4. By March 5, it had regained the $90,000 level.

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