The address associated with the exchange transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet
Bankrupt Japanese cryptocurrency exchange Mt. Gox has begun transferring large amounts of bitcoin (BTC) again, according to on-chain data tracking platform Arkham Intelligence.
The exchange's address had transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during Tuesday's early Asian trading hours when the cryptocurrency traded above $87,000 in the spot market.
This is the exchange's third significant on-chain movement of funds in four weeks.
The exchange had previously moved over $900 million in BTC on March 11 and over $1 billion in BTC on March 6. However, the latest coin shuffling has not impacted the spot price so far.
That's in stark contrast to mid-last year, when Mt. Gox's transfer of coins spurred fear of creditor liquidations, causing price volatility.
However, last October, the exchange extended its complete creditor payout deadline by a full year to Oct. 31, 2025, citing ongoing verification and processing requirements for claimants.
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