Defunct crypto exchange Mt. Gox on Monday transferred Bitcoin worth some $2.2b to unmarked wallets, according to data intelligence firm Arkham.
Data showed the exchange moved the Bitcoin from its cold wallet to two unknown addresses. About 30.3K BTC went to a wallet marked “1FG2C…Rveoy,” while 2K BTC was transferred to Mt. Gox’s cold wallet “1Jbez…LAPs6.” Later, this 2K BTC was moved to an unmarked wallet “15gNR…a8Aok.”
The larger recipient wallet has started distributing the funds, sparking speculation about whether these actions indicate creditor repayments or preparations for market sales.
Arkham data showed that the $35m transfer involved two separate transactions. First, 31.78 BTC was sent to one wallet, followed by 468.24 BTC to another.
This decision allows more time to manage the complex process of compensating those impacted by the 2014 collapse. As a result, creditors expecting payouts soon must now wait an extra year to access their Bitcoin. This delay has sparked a positive reaction in the market, as it technically avoids the immediate liquidation of billions in BTC, reducing the risk of a major price drop.
The fund transfers come as Mt. Gox’s bankruptcy trustees recently extended the creditors’ repayment deadline to Oct. 31, 2025.