Yigit Taha OZTURK 
The defunct crypto exchange Mt. Gox, which declared bankruptcy in 2014, moved approximately $172.5 million worth of Bitcoin (around 1,620 BTC) to unknown wallets on December 17. This transfer coincided with Bitcoin’s surge past the $107,000 mark.
Key Details of the Transfer
According to Arkham Intelligence, the transferred Bitcoin was split across two addresses: A portion of 1,427.9 BTC was routed through multiple wallets and ultimately reached a wallet beginning with “1DeY”. Meanwhile, 191.7 BTC and another 108 BTC moved through various addresses before accumulating in a wallet starting with “1KLr”, which now holds a total of 300 BTC.
This activity follows a similar transfer on December 5, when Mt. Gox moved 24,000 BTC (worth $2.5 billion at the time) to an unknown address, just as Bitcoin crossed the $100,000 threshold for the first time.
Bitcoin Holdings and Creditor Payments
Arkham Intelligence data reveals Mt. Gox still holds 36,085 BTC, valued at approximately $3.86 billion at current prices. Mt. Gox creditors are eligible to receive their repayments in Bitcoin, but the repayment deadline was extended in October 2023 to October 31, 2025. The delay stems from many creditors failing to complete the necessary repayment procedures.
Market Impact
Historically, large transfers from Mt. Gox wallets trigger concerns of selling pressure in the market. However, this latest movement had no apparent effect on Bitcoin’s price.
As of December 16, Bitcoin remained stable around $106,500, briefly reaching a new peak of $107,857. Despite its collapse in 2014, Mt. Gox still holds significant Bitcoin reserves, and any movement of these funds remains closely watched by market participants.
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