Mt. Gox Rises From Sleep: Massive BTC Transfer Shakes Markets
Mt. Gox, the bankrupt Japanese Bitcoin exchange, has once again executed a massive transfer involving 11,501 Bitcoin worth over Rp16.6 trillion to two different wallet addresses.
Latest Transfer Details
On Tuesday, March 25, 2025, Arkham Intelligence reported that Mt. Gox sent 893 Bitcoin (approximately US$78 million) to its cold wallet with the domain 1Jbez.
Meanwhile, another 10,608 Bitcoin (approximately US$929 million) was transferred to another wallet known as Mt. Gox’s change wallet, with the domain 1DcoA.
Impact on Bitcoin Price
Following this transfer, the price of Bitcoin corrected from US$88,400 to US$86,500, according to CoinMarketCap data.
Previous Transfers
This transfer follows two other major asset movements earlier in the same month.
On March 6, 2025, Mt. Gox moved 12,000 Bitcoin, followed by an additional transfer of 11,833 Bitcoin on March 11. Several of the previous transfers were known to have entered the Bitstamp exchange.
Speculation on Creditor Payouts
This significant movement has sparked speculation that Mt. Gox may soon begin distributing compensation funds to its creditors.
Under the outlined repayment scheme, creditors have the option to receive their funds in the form of Bitcoin.
Background on Mt. Gox
Mt. Gox was declared bankrupt in early 2014 after losing approximately 850,000 Bitcoin due to a major hack, making it one of the largest security breaches in crypto history.
Before the incident, Mt. Gox was the world’s largest Bitcoin exchange, handling around 70–80% of global trading volume.
