Cold wallets linked to the defunct crypto exchange Mt. Gox have recently witnessed significant Bitcoin movements totaling around $2 billion.
On Sunday at 11:39 p.m. UTC, a wallet labeled “1FG2C…Rveoy” transferred approximately 27,871 BTC (valued at $2.24 billion) to a new wallet, “1Fhod…QLFRT,” and an additional 2,500 BTC (worth $200 million) to Mt. Gox’s cold wallet, according to data from Arkham Intelligence. Six days prior, this sending wallet had received a total of 30,371 BTC from Mt. Gox.
This latest transfer could signal a new phase of repayments to Mt. Gox creditors as such movements in the past have preceded repayments via centralized exchanges including Bitstamp and Kraken. Mt. Gox currently holds 44,378 bitcoin, Arkham data shows.
For context, Mt. Gox, established in 2010, was once the world’s largest Bitcoin exchange. However, in 2014, it suffered a major security breach, resulting in the loss of over 850,000 BTC. Since then, creditors have been awaiting repayment, and the process has gradually unfolded over recent months.
