Mt. Gox Moves $2.8B in BTC Amid Bitcoin’s Surge Past $100K
An address tied to long-defunct crypto exchange Mt. Gox moved large amounts of BTC to an unidentified address early Thursday as the cryptocurrency’s price rose to six figures.
The address labelled as Mt. Gox (1FHOD) by analytics firm Arkham Intelligence moved 27,871 BTC worth $2.8 billion to another address: 1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp. The exchange still holds 39,878 BTC worth over $4 billion at press time.
The latest outflow comes three weeks after the defunct exchange transferred 2,500 BTC to an unknown address and has grabbed eye balls on crypto social media. These on-chain movements are likely related to creditor reimbursements, which were a significant source of bearish pressure this summer. In October, Mt. Gox trustee postponed the deadline for creditor repayments by one year to Oct. 31, 2025.
BTC is not showing any sign of weakness as of writing, trading steady above $103,000, CoinDesk data show.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Recent Posts
Bitcoin Handles $14B OI Drop As Spot Volume Surged To $44B: Controlled Reset?
Bitcoin is testing a critical support level near $110,000 after being rejected from the $116,000…
Bitcoin’s Leverage Flush Favors Accumulation, K33 Says
Crypto markets posted big declines on Tuesday, but signs of relief from the Federal Reserve…
New GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order
Bitcoin Magazine New GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order A new House…
Bitcoin Price Settles at $113,000 a Week After Hitting All-Time Highs
Bitcoin Magazine Bitcoin Price Settles at $113,000 a Week After Hitting All-Time Highs Bitcoin price…
U.S. Targets Cambodian Pig Butchering, Takes $14B in Bitcoin as Biggest Ever Seizure
As the Justice Department pursues Prince Group's leader, the Treasury Department sanctioned the company while…
Matrixport-Linked Wallets Pull 4,000 Bitcoin From Binance Within 20 Hours – Details
Bitcoin continues to trade with high volatility following Friday’s brutal crash that sent prices as…