Mt. Gox Transfers $172.5M Worth of Bitcoin to Unknown Wallets Following Recent Price Surge

Mt. Gox, the defunct cryptocurrency exchange that declared bankruptcy in 2014, transferred approximately $172.5 million worth of Bitcoin to unknown wallets on December 17th, following Bitcoin's recent price surge to $108,000.

Bankrupt cryptocurrency exchange Mt. Gox moved about $172.5 million in Bitcoin to unknown wallets on December 17th, following the recent surge in Bitcoin's price to $108,000.

The exchange transferred 1,619.6 Bitcoin to two untagged addresses, according to Arkham Intelligence.

The transactions involved 1,427.9 Bitcoin and 191.7 Bitcoin, respectively. A portion of the 1,427.9 Bitcoin transaction passed through an intermediary wallet, eventually ending up in a wallet beginning with “1DeY,” which received about 108 Bitcoin.

The 108 Bitcoin and the 191.7 Bitcoin, meanwhile, went through multiple wallets before being consolidated in a wallet beginning with “1KLr,” which currently holds 300 Bitcoin.

The reason for the fund transfers is unknown. Previous movements of Mt. Gox’s Bitcoin holdings have often preceded creditor payouts.

This latest transfer follows a larger move on December 5th, when Mt. Gox shifted over 24,000 Bitcoin—valued at about $2.5 billion at the time—to an unknown wallet.

That transaction occurred minutes after Bitcoin crossed $100,000 for the first time.

According to Arkham data, Mt. Gox still holds around 37,700 Bitcoin, valued at approximately $4 billion, across wallets under its control. Creditors of the exchange have the option to receive repayments in Bitcoin.

Despite concerns that such transfers could indicate bearish sentiment, Bitcoin's price remained stable following the latest move.

The trustee overseeing Mt. Gox’s remaining Bitcoin extended the creditor repayment deadline to October 31st, 2025, due to some claimants' incomplete procedures.