PANews reported on May 28 that according to Cryptoslate, CryptoQuant researcher Axler Adler Jr said on the X platform, "All funds in the Mt.Gox cold wallet have been transferred to a new wallet: 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6, and the current balance of the 1JbezD wallet is 141,000 BTC.

Alex Thorn, head of research at Galaxy Digital, believes that most of the Bitcoin will be held rather than sold immediately. Thorn said: "I personally expect that most of the Bitcoin will be held, but I can't say the same for BCH (Bitcoin Cash)." Thorn believes this is a consolidation before being transferred to a custodian: "All funds were transferred to the 1Jbez...APs6 address. This may be a consolidation before being transferred to a creditor custodian (BitGo, Kraken, Bitstamp). "

The trustee responsible for overseeing the Bitcoin repayment process for the defunct exchange has extended the repayment deadline to October 2024. The move is crucial for creditors who have been waiting for compensation for nearly a decade. The news of the large-scale transfer of Bitcoin had an impact on the market, and the price of Bitcoin fell to about $67,485 today.

According to previous news, the MtGox wallet address has transferred billions of dollars of Bitcoin to a new address starting with 1JbezD many times.