Mt. Gox Moves $2.4B in Bitcoin
A recent analysis from Arkham data shows that Mt. Gox, a now-defunct crypto exchange, $2.4 billion in bitcoin (BTC) to two separate wallets on Monday.
This comes at a time when the leading cryptocurrency has surpassed new records, reaching $81,000 over the weekend.
The trustees of Mt. Gox moved 30,000 BTC from one wallet, identified as “1FG2C…Rveoy,” to a new wallet called “1Fhod…LFRT.” Additionally, they transferred $200 million to a Mt. Gox cold wallet.
Last week, “1FG2C…Rveoy” was identified as the largest receiver of BTC in a movement from a Mt. Gox wallet, according to previous reports.
These transfers are typically a consolidation of funds to new addresses before they are eventually sold on the open market through crypto exchanges.
At its peak, Mt. Gox was the world’s leading crypto exchange, managing over 70% of all bitcoin transactions in its early years.
However, in 2014, the exchange experienced a major hack in which an estimated 740,000 bitcoins were stolen, worth over $15 billion at current values. This hack was just one of many attacks that occurred on the exchange between 2010 and 2013.
