Recently, MtGox's wallet activity has attracted widespread attention. According to data from blockchain monitoring platform Arkham, MtGox made multiple large transfers of Bitcoin (BTC) on March 5, 2025. The specifics are as follows:
12,000 BTC transferred
Around 3:00 AM Beijing time on March 6, 2025 (approximately the evening of March 5 UTC), an address marked as MtGox (1PuQB) transferred about 12,000 BTC, worth approximately 1.09 billion USD.
Most of this (11,833.6 BTC, worth approximately 1.07 billion USD) was transferred to a new address (starting with 1Mo1n), while a small portion was sent to MtGox's cold wallet address (1Jbez).
As of now, the Bitcoin at the 1Mo1n address has not moved further.
166 BTC transfer and testing transaction
Shortly after the above transfer (about 13 minutes later), MtGox's cold wallet address (1Jbez) transferred 166 BTC to an address starting with 1LECw, worth approximately 15.05 million USD.
At the same time, the cold wallet also transferred 0.0001 BTC to a suspected BitGo address (starting with 1LE), possibly as a transfer test.
Current balance
After the transfer, MtGox's main address (1PuQB) still holds approximately 36,000 BTC, worth approximately 3.276 billion USD.
These dynamics indicate that MtGox may be preparing for further payments to creditors. Starting from July 2024, MtGox has begun distributing Bitcoin and Bitcoin Cash (BCH) to some creditors through designated cryptocurrency exchanges (such as BitGo, Kraken, etc.). In October 2024, the payment deadline was postponed to October 31, 2025, which may be one of the reasons for the recent frequent wallet activity.
It should be noted that these transfers may be related to the payment process, but the specific purpose (such as internal adjustments, testing, or actual distribution) remains to be clarified further by the authorities.
