Crypto News
Mt. Gox, the cryptocurrency exchange that filed for bankruptcy after a massive hack in 2014, moved 11,501 Bitcoin, worth around $905 million, to an unmarked wallet on March 11, 2025.
Mt. Gox Transfers $905 Million in Bitcoin to Unmarked Wallet as Repayment Deadline is Pushed to October 2025
Mt. Gox, the cryptocurrency exchange that filed for bankruptcy after a massive hack in 2014, moved 11,501 Bitcoin, worth around $905 million, to an unmarked wallet on March 11, 2025. The transaction took place at 12:15 a.m. UTC, with most of the Bitcoin going to the unidentified wallet starting with "1Pazv…R9pYj." A smaller portion of 332 BTC was sent to the exchange’s warm wallet, both of which remain unspent.
These recent transactions have raised speculation about the possible impact on Bitcoin’s price. When Mt. Gox distributes funds to creditors, it could create selling pressure, which might influence market conditions. Bitcoin’s price has been unstable, with some experts predicting that it could drop to as low as $75,000 amid ongoing market fluctuations.
Mt. Gox was once the largest Bitcoin exchange globally, handling 70% of all Bitcoin trades by 2013. However, following its 2014 hack, it filed for bankruptcy and began the long process of returning funds to creditors. While it has been repaying its creditors, some still haven’t received compensation. With over $2.8 billion in Bitcoin still in its possession, Mt. Gox’s actions will likely continue to affect the market and raise questions about the future distribution of these assets.
As the exchange works toward fulfilling its repayment obligations, the upcoming movements of these assets could play a critical role in determining Bitcoin’s market trajectory. The current state of Mt. Gox's holdings and its potential distribution remains a closely watched issue in the cryptocurrency world.