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.
According to Arkham Intelligence, the exchange moved 1,619.6 Bitcoin to two untagged addresses.
The transfers consisted of 1,427.9 Bitcoin and 191.7 Bitcoin, respectively. A portion of the 1,427.9 Bitcoin transaction passed through an intermediary wallet, ultimately ending up in a wallet starting with “1DeY,” which received approximately 108 Bitcoin.
Meanwhile, the 108 Bitcoin and the 191.7 Bitcoin moved through several wallets before consolidating in a wallet starting with “1KLr,” which currently holds 300 Bitcoin.
The reason for the fund transfers remains unclear. 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 moved over 24,000 Bitcoin—worth roughly $2.5 billion at the time—to an unknown wallet.
That transaction occurred just minutes after Bitcoin surpassed $100,000 for the first time.
Arkham data indicates 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 signal bearish sentiment, Bitcoin's price remained stable following the latest move.
The trustee overseeing Mt. Gox’s remaining Bitcoin previously extended the creditor repayment deadline to October 31st, 2025, citing incomplete procedures by some claimants.