Mt. Gox: Bitcoin exchange moves billions of dollars

On the night of March 6, the bankrupt crypto exchange Mt. Gox moved a huge amount of Bitcoin. Records from Arkham Intelligence show that the trustee moved a total of 12,000 BTC, worth about $1.1 billion.

It is unclear whether this amount is being liquidated or has merely been transferred to another wallet address. At the same time, Mt. Gox transferred another $15 million in Bitcoin to another cold wallet under the exchange's control.

According to data of Glassnode, the Japanese trustee has already repaid a large portion of Bitcoin assets from the bankruptcy estate to creditors. Currently, 24,051 BTC are still in the trustee's wallets.

What was Mt. Gox?
Mt. Gox was one of the world's first Bitcoin trading platforms. Founded in Tokyo in 2010, the exchange grew rapidly and by 2013 became the largest Bitcoin exchange in the world, handling as much as 70% of all Bitcoin transactions.

In early 2014, however, things went wrong: Mt. Gox stopped trading, the website went offline and the exchange was declared bankrupt. In total, some 800,000 BTC were lost. Since then, thousands of creditors have been waiting for their assets to be repaid.

In October 2024, Mt. Gox announced that the redemption deadline was delayed by 12 months to Oct. 31, 2025.