Mt.Gox Moves $2.2B BTC to Two Unknown Wallets: Report

• Mt.Gox transfers nearly 32,000 Bitcoins worth over $2.2 billion to two unidentified wallets.
• The defunct crypto exchange had postponed its creditor repayment deadline to Oct 31, 2025.
• Earlier, Mt.Gox had moved about 500 Bitcoins worth $35 million to two cold wallets.

Mt.Gox has come under the headlines for yet another transfer, but this time, it is stated to be the largest in months. The now-defunct cryptocurrency exchange has moved over 32,000 Bitcoins worth nearly $2.2 billion on Monday. According to a report from Arkham Intelligence, the funds were transferred to two unidentified wallets. 

The data stated that the exchange had moved approximately 32,371 Bitcoins worth about $2.19 billion to masked wallets. Around 30,371 Bitcoins were moved to one wallet, while the remaining 2,000 Bitcoins were moved to another cold wallet. However, it was later moved to another wallet. 

The latest transfer comes just a few days after the exchange moved about 500 Bitcoins to two unmarked wallets. On Thursday, Mt.Gox transferred 500 BTC worth $35 million to two cold wallets. While the first wallet received 31.78 BTC, the second wallet received the major share – 468.24 BTC. Although the latest transfer is the largest in months and the first since late September, it is still unclear if they are part of its repayment program. 

Further, the bankruptcy trustees of the exchange had extended the repayment deadline to October 31, 2025, giving themselves more time to complete the process. However, this will create a negative impact as creditors cannot access their Bitcoin for another year. At the time of writing, Bitcoin was trading around 68,554 and had a 24-hour trading volume of $41.45B, an increase of 24.56%.

Mt.Gox is one of the early cryptocurrency exchanges. It was founded in 2010 and operated from Tokyo. However, between 2011 and 2014, the exchange suffered several phishing attacks. Following that, in February 2014, it stopped trading, closed its sites, and filed for bankruptcy. Although a decade has passed, the exchange is still paying back its creditors. Some of the top exchanges like Kraken, BitGo, and Bitstamp were utilized to repay the creditors. Currently, Mt.Gox holds around 44,000 BTC worth nearly $3 billion.

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