Mt Gox Moves 35 Million in BTC to Unmarked Address

CoinWorld reported:
Author: Martin Young, CoinTelegraph; Translated by: Deng Tong,
Bitcoin associated with the defunct Mt. Gox exchange has started to flow again, with on-chain data indicating that on November 1, a transaction worth $35 million was transferred to several unknown addresses.
Blockchain intelligence platform Arkham revealed that 500 bitcoins, valued at approximately $35 million, were transferred from the Mt. Gox cold wallet to an unmarked address beginning with “12cTj.” Shortly thereafter, two transactions of 31.78 BTC and 468.24 BTC were sent to two unmarked addresses. This marks the first large-scale transfer of funds from Mt. Gox-related wallets in about a month.
According to Arkham, there are still approximately 44,905 BTC, valued at around $3.1 billion, in the addresses marked by Mt. Gox.



Mt. Gox BTC transfer. Source: Arkham Intelligence
The now-defunct cryptocurrency exchange transferred approximately 12,000 tokens, valued at around $700 million at the time, to a new unknown wallet address on August 20, marking the first significant transaction since the trustee managing Mt. Gox assets began distributing funds to creditors at the end of July.
Earlier this month, Mt. Gox postponed the deadline for repaying creditors by one year, pushing the cutoff date for fund returns to October 31, 2025.
An official statement noted, “Many creditors have not yet received repayments because they have not completed the necessary procedures to obtain their refunds.”
It also mentioned “system issues,” which led to some creditors receiving double payments. The trustee acknowledged the mistake and requested that recipients return the overpaid funds.
The platform was one of the first bitcoin exchanges in the world and once handled about 70% of global BTC transactions. The system faced a series of security vulnerabilities and hacking attacks, leading to the suspension of withdrawals and its closure in 2014.
The repayment process of Mt. Gox and the potential liquidation of BTC have raised significant concerns about their impact on spot prices.