AMLBot Says More Than 100 Bitcoin Linked to Mt. Gox Receiving Wallets Were Burned
According to Lookonchain, five long-dormant wallets moved 107 BTC worth about $8.3 million to a Bitcoin burn address, adding fresh attention to a previously reported destruction linked by AMLBot to Mt. Gox receiving wallets.
A total of 107 BTC was sent in five transactions to the Bitcoin burn address 1111111111111111111114oLvT2, permanently removing the coins from practical circulation. Existing reporting linked the funds to Mt. Gox receiving wallets based on AMLBot’s tracing, while the new report from Lookonchain says the Bitcoin came from five wallets that had reportedly been inactive for more than a decade. The latest article values the destroyed BTC at about $8.3 million, compared with earlier estimates of roughly $8.7 million and other lower figures that reflected Bitcoin price changes rather than a change in the amount burned. The sender and motive remain unconfirmed.
- Bitcoin burn address: A wallet address with no known usable private key, so coins sent to it are considered permanently removed from practical circulation.
- Mt. Gox: A defunct Bitcoin exchange that once handled most Bitcoin trading before collapsing in 2014 after losing customer funds.