Mt. Gox, the now-defunct crypto exchange, has made a significant transfer of billions in Bitcoin to an unknown address, sparking concern across crypto social media.
On Thursday, an address associated with Mt. Gox (1FHOD), identified by analytics firm Arkham Intelligence, moved 27,871 BTC, worth approximately $2.8 billion, to a new address: 1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp. Mt. Gox still holds 39,878 BTC, valued at over $4 billion at the time of writing.
This latest transfer follows a similar one made three weeks ago, when 2,500 BTC were sent to an unknown address. Such large movements of Bitcoin are likely linked to the ongoing creditor reimbursements that have raised concerns within the market. In October, the Mt. Gox trustee extended the deadline for repayment by another year, pushing the date to October 31, 2025.
Despite the transfer, Bitcoin has remained resilient, trading steady above the $103,000 mark as of the latest data from CoinDesk.
