Last updated on March 31st, 2025 at 10:01 am
Bankrupt cryptocurrency exchange Mt. Gox has once again moved a significant amount of Bitcoin, transferring 11,501 BTC—worth approximately $1.01 billion—on March 25.
This marks the exchange’s third major transaction this month, fueling speculation that creditor repayments may be drawing closer.
Blockchain analytics firm Arkham Intelligence first flagged the movement, revealing that 893 BTC (around $78 million) was sent to a new address, while 10,608 BTC (about $929 million) was transferred to another wallet controlled by Mt. Gox. Additionally, a minuscule 0.000017 BTC was sent to Kraken, likely as a test transaction.
This latest transfer follows two substantial Bitcoin movements earlier in March—12,000 BTC on March 6 of which $15 million was sent to BitGo, one of the custodians handling repayments for Mt. Gox creditors and 11,833 BTC on March 11, most of this amount, 11,501 BTC (around $905.1 million), was sent to a newly created wallet, while a smaller portion of 332 BTC (valued at $26.1 million) was directed to a warm wallet. According to blockchain tracking platform Spot On Chain, some of the previous transactions were later deposited on Bitstamp, a popular crypto exchange.
Once the world’s largest Bitcoin trading platform, Mt. Gox collapsed in 2014 after losing approximately 850,000 BTC—then valued at nearly $500 million—due to a prolonged security breach. Since then, ongoing legal disputes have delayed creditor repayments. Last year, the exchange pushed its repayment deadline from October 31, 2024, to October 31, 2025, citing processing and verification issues.
Despite concerns that large Bitcoin transfers from Mt. Gox could impact the market, recent movements appear to have had minimal effect. As of March 25, Bitcoin remains strong, trading at around $86,500 after rebounding from a seven-day low of $81,259. Meanwhile, Arkham Intelligence data shows that Mt. Gox still holds roughly 35,000 BTC, currently valued at approximately $3.08 billion.
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