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]
Bitcoin crossed $80,000 for the first time since May, extending its seven-day advance to roughly…
Falling open interest and subdued funding rates suggest the rally remains structurally healthy.Read MoreCoinDesk: Bitcoin,…
Your day-ahead look for Aug. 25, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Spot bitcoin funds took in $337.56 million on Aug. 24, extending an unbroken run of…
Traders are spending millions to position for further Bitcoin upside after its staggering rally to…
BTC is up more than 25% on the week after Treasury’s bond-buyback expansion sparked a…