Mt. Gox transfers $2 million in BTC to new accounts amid ongoing debt settlements

Defunct Bitcoin exchange Mt.Gox has moved 32,371 BTC worth an estimated $2.19 billion to three new addresses.

Several on-chain transaction trackers picked up the move, including Spot On Chain and Arkham Intelligence.

Bitcoin transferred to new wallets

Data from Spot On Chain shows that the platform initially moved 30,371 BTC to a wallet starting with 1FG2… Rveoy. He then sent another 2,000 BTC, worth nearly $130 million, to one of his known cold wallets, 1JbezD…EvhKLAPs6, before moving most of it to an anonymous address, 15gNRV.. .Ca8Aok.

The transactions come just four days after Mt.Gox transferred 500 BTC to two unknown wallet addresses, bringing the total amount moved during the period to 32,871 BTC valued at $2.226 billion.

Spot On Chain also revealed that the bankrupt exchange sent 296 BTC, worth an estimated $20.13 million, to digital asset managers B2C2 and OKX in what may be preparations to disburse assets to creditors .

This latest transfer is the exchange’s biggest fund movement since September, when it exchanged 33,023 BTC valued at $2.269 billion.

According to Arkham, the known addresses of Mt. Gox still have over $3 billion in BTC. However, Spot On Chain cites a much lower figure of 12,006 BTC, valued at a more modest $810 million.

Deferred repayment term

In early July, Mt Gox’s trustee announced that the company had begun paying creditors in Bitcoin and Bitcoin Cash (BCH). The conditions included an account verification process and subscriptions to one of several digital asset exchanges selected to facilitate withdrawals.

A deadline for creditors to recoup their investments had also been set at the end of October 2024, but has now been rescheduled to October 31, 2025.

Mt Gox, which allegedly managed around 70% of all BTC assets at one point, gave several reasons for extending the redemption period. Its official statement mentioned that many creditors had not completed the necessary procedures to receive repayments.

In addition, the insolvent crypto platform cited a system problem that resulted in some creditors getting “double deposits,” and urged them to return the extra funds.

Thousands of creditors have already received their compensation, and the exchange’s trustee revealed in July that it had successfully distributed BTC and BCH to more than 17,000 former customers.

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