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Mt. Gox Transfers $936 Million in Bitcoin After Eight-Month Inactivity

Mt. Gox Transfers $936 Million in Bitcoin After Eight-Month Inactivity

Mt. Gox moved $936 million in BTC internally and sent $16.8 million to Kraken, marking its first major transfer in eight months amid ongoing creditor proceedings.

BTC

Summary

On November 18, Mt. Gox transferred 185 BTC worth approximately $16.8 million to the Kraken exchange following a test transaction, while moving 10,608 BTC worth about $936 million to another Mt. Gox-controlled wallet, according to blockchain data. This marks the first significant on-chain activity since March, when $77.4 million in BTC was sent to Kraken for creditor distribution. Mt. Gox, which collapsed in 2014 after losing 850,000 BTC, still holds roughly 34,689 BTC valued at around $3.1 billion.

Terms & Concepts
  • Mt. Gox: A defunct Tokyo-based Bitcoin exchange that collapsed in 2014 after a major hack, now undergoing creditor repayment proceedings.
  • Cold Wallet: A cryptocurrency storage method kept offline to protect against hacking and unauthorized access.
  • Hot Wallet: An online cryptocurrency wallet connected to the internet, used for active transactions but more vulnerable to security breaches.