Mt. Gox wallet moves $1B Bitcoin amid market volatility

Bankrupt crypto exchange Mt. Gox has started shifting Bitcoin again, with 12,000 BTC on the move in a tumultuous week rattled by market volatility.

On March 6, Arkham Intelligence alerted its users on X that the Mt. Gox wallet (1PuQB) had moved 12,000 coins (BTC) worth a little over $1 billion. The transaction cost $1.64 in fees. 

At the same time, 166.5 BTC worth around $15 million was sent to the Mt. Gox cold wallet (1Jbez), while the remainder of the assets were moved to an unidentified wallet (1Mo1n), which currently holds a balance of 11,834 BTC.

Mt. Gox-linked entities currently hold 36,080 BTC worth around $3.26 billion, according to Arkham data. 

It is the first Bitcoin transaction from Mt. Gox linked wallets for a month, the most recent being a shuffle of 4 BTC between cold wallets. It is unclear what this latest transaction was for. 

In December, Mt. Gox moved around 1,620 Bitcoin through a series of unknown wallets less than two weeks after it did the same with over 24,000 BTC.

The exchange fell into bankruptcy in early 2014, and some past movements of its Bitcoin holdings have been followed by creditor payouts, which began in 2024.

In October, the trustee in charge of the bankrupt exchange’s Bitcoin stash pushed the deadline for creditor repayments by a full year to Oct. 31, 2025. 

Related: Mt. Gox repayments won’t be as bad for Bitcoin as you think

The move comes amid a week of high volatility for crypto markets, which have reacted to US President Donald Trump’s trade tariffs, which came into effect on March 4, rattling high-risk assets.

Bitcoin has seesawed between a high of $94,770 on March 3 to a low of $82,681 on March 4 before returning to reclaim $90,000 on March 5. 

The asset was trading at $90,162 at the time of writing, following a gain of around 4% over the past 24 hours, according to CoinGecko.

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