Mt. Gox Moves $739M in Bitcoin for First Time in Two Months

Defunct Japanese crypto exchange Mt. Gox moved roughly $739 million worth of Bitcoin from its cold wallets early Tuesday, its first onchain activity in more than two months, Arkham Intelligence data shows. Blockchain records show 10,306 BTC, roughly $730.8 million, was sent from a cold wallet to an unmarked address at 4:47 am UTC and is marked as "unspent." At the same time the exchange transferred 116.3 BTC, about $8.25 million, to a hot wallet that is marked as "spent." The distinction matters because "unspent" funds remain in the new address and have not been forwarded, while "spent" coins have already moved on.

The large transfers have raised questions about imminent creditor distributions, which could pressure markets if long-waiting creditors opt to sell once they receive their Bitcoin. Arkham data shows Mt. Gox still holds 34,504 BTC, worth roughly $2.41 billion across its wallets.

Japan

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