Mt. Gox, the failed Tokyo-based crypto exchange, is back in the news after on-chain data confirmed that it has moved 11,501.4 Bitcoins worth over $1 billion to its two crypto wallets.
Arkham Intelligence shared this latest information, revealing that the once-popular exchange transferred over 11,000 Bitcoins on March 25th.
The analytics company stated that 899 Bitcoins were transferred to a cold crypto wallet (1Jbez), while another 10,608 Bitcoins were sent to an alternative account (1DcoA).
Interestingly, the bankrupt exchange had previously sent 12,000 Bitcoins worth $1 billion on March 6th and an additional 11,833 Bitcoins on March 11th. Arkham Intelligence also confirms that the exchange still controls 35,000 Bitcoins worth over $3 billion across various wallets.
BREAKING:
MT. GOX MOVES 11,501 $BTC WORTH $1 BILLION.
899 $BTC ($78.11M) TO THE HOT WALLET
10,608 $BTC ($927.48M) TO A CHANGE WALLET
SHOULD WE BE WORRIED? pic.twitter.com/RUAcQFYwqa
— Crypto Rover (@rovercrc) March 25, 2025
Mt. Gox Moves Another $1 Billion Worth Of Bitcoins
The activity from Mt. Gox has kept it in the spotlight this March, as on-chain data indicates a series of significant Bitcoin transactions. According to Arkham Intelligence, this latest transfer marks the third major transaction for Mt. Gox this month. Following the confirmation of the transfer, Arkham quickly disseminated the news via its Twitter/X account.
In its report, the firm confirmed that 893 Bitcoins were moved worth approximately $78 million to a Mt. Gox wallet, while a larger transfer of 10,608 Bitcoins was sent to another wallet, totaling around $929 million.
Spot On Chain Reveals Mt. Gox Previously Transferred Assets To Bitstamp
Spot On Chain has also indicated that one of Mt. Gox’s recent transfers was directed towards Bitstamp. The analytics firm reported that 833.4 Bitcoins added to its Bitstamp account would be moved again, with 12,000 Bitcoins valued at over $1 billion transferred on March 6th.
Additionally, Arkham noted that Mt. Gox transferred $15 million of the $1 billion fund to BitGo, a custodian managing creditor repayments. 166.5 Bitcoins worth about $15 million were also moved to its cold wallet, while the remaining funds were sent to an undisclosed crypto wallet.
Mt. Gox has shown increased activity throughout March 2024, including the transfer of 11,833 Bitcoins on March 11th, worth nearly $1 billion at current prices. Spot On Chain revealed that the exchange initiated its asset transfers back in June 2024, beginning with a tranche worth $9.2 billion.
Mt. Gox Moving Its Bitcoins To Pay Creditors
Once the leading crypto exchange, Mt. Gox fell into bankruptcy in early 2024 after losing 850,000 Bitcoins. At its height, the exchange handled 70 to 80% of total crypto trade transactions.
Following its collapse in February 2014, a court appointed trustees to oversee the bankruptcy proceedings and financial management. As per the court’s ruling, Mt. Gox has until October 31st, 2025, to compensate affected customers.
Featured image from Shutterstock, chart from TradingView
