Mt. Gox moves $905 million worth of bitcoin to unmarked wallet address: Arkham

Defunct crypto exchange Mt. Gox moved 11,501 BTC, worth around $905 million, to an unmarked wallet address on Monday, according to Arkham Intelligence data.

At around 8:15 p.m. ET, Mt. Gox transferred a total of 11833.64 BTC ($931.19 million), a majority of which were moved to the unmarked wallet "1Pazv…R9pYj." Around 332 BTC was sent to Mt. Gox's warm wallet. Both amounts remain unspent, Arkham Intelligence data shows .

Bitcoin movements in the past have typically preceded repayments from Mt. Gox to creditors that lost money in the bankrupt exchange. Creditor distributions may have an impact on market prices, with the potential for increased selling pressure.

Nonetheless, it is unclear whether Monday's move is part of future distribution to creditors.

According to the data, Monday's $900 million bitcoin move stems from Mt. Gox wallet "1Mo1n," which received $1.07 billion worth of bitcoin from another exchange wallet last week. The "1Mo1n" address wasn't marked as a Mt. Gox wallet on Arkham Intelligence when it moved funds last week.

Launched in 2010, the Tokyo-based exchange was once the largest bitcoin exchange, servicing 70% of all bitcoin trades worldwide in 2013. However, it suffered a hack in early 2014 and lost around 850,000 BTC, which led the company to file for bankruptcy protection.

Mt. Gox started repaying its creditors in July 2024 from its holdings of 142,000 BTC ($11 billion), 143,000 Bitcoin Cash ($47 million) and 69 billion Japanese yen ($469 million). 

While a number of creditors received repayments via Kraken and Bitstamp exchange, Mt. Gox pushed back the repayment deadline to Oct. 31, 2025. The bankrupt exchange still holds $2.8 billion worth of bitcoin across its wallets, according to Arkham data .