Bitcoin rebounds to $100,000, Mt. Gox-related wallets transfer more than 2,300 BTC, is it going to start making trouble again?
According to Arkham Intelligence, a wallet associated with the defunct cryptocurrency exchange Mt. Gox transferred 2,324 bitcoins worth $234 million to an unidentified wallet early Thursday. The latest transfer occurred as Bitcoin rose above $100,000, driven by expectations of a Fed rate cut after the latest inflation report.
On Wednesday, 2,623 bitcoins worth about $255 million were transferred from Mt. Gox-marked wallets to two addresses, of which about $10 million arrived at B2C2. The remaining funds were distributed to other addresses and then entered a wallet beginning with "14jvfU".
The defunct cryptocurrency exchange has made multiple bitcoin transfers this month, including a transfer of $2.4 billion worth of bitcoin to an unknown wallet on December 5 and more than $350 million the next day. Following these activities, Mt.Gox’s wallets retained approximately 36,000 BTC, valued at $3.6 billion.
While the purpose of these transfers remains uncertain, historical data suggests that such transfers often precede creditor repayments facilitated by centralized exchanges such as Bitstamp and Kraken.
Mt.Gox recently extended the repayment deadline to October 31, 2025, pushing back the original target of October 31, 2024.
