The long-gone Mt. Gox exchange initiated a significant on-chain bitcoin movement on Monday, transferring approximately 10,608 BTC, worth $950 million, to a new wallet address, according to data from blockchain analytics firm Arkham Intelligence.
The transfer unfolded at approximately 11:40 PM ET, with about 10,422 BTC sent to an unidentified address labeled “1ANkD…ojwyt,” while a smaller portion of about 185.5 BTC was routed back to Mt. Gox’s own hot wallet.
Historically, such significant BTC moves from Mt. Gox typically predicted repayments to creditors who lost funds during the exchange’s 2014 collapse.
While it is not yet clear if the recent transfer is directly linked to creditor payments, the timing is particularly unfortunate given the ongoing downward trend in BTC that has seen prices fall to seven-month lows near $90,000. This on-chain movement may have contributed to market speculation about impending repayments to creditors and the potential sell-offs that might follow.
Mt. Gox suffered a hack in early 2014 and lost approximately 850,000 BTC, forcing the company into bankruptcy. The repayment effort started last year. The exchange still holds about 34,689 BTC, worth nearly $3.1 billion, across various wallets, according to Arkham data.
