- Mt. Gox cold wallet receives $367K in Bitcoin, its first significant transaction in years.
- Anonymous sender transfers 5.813 BTC, adding to the wallet’s $2.84 billion balance.
- Regular transactions continue as the wallet remains part of Mt. Gox insolvency proceedings.
Recently, the Mt. Gox cold wallet has received a substantial Bitcoin transaction from an anonymous address. A total of 5.813 BTC, valued at approximately $367,000, was sent to the wallet.
This transaction marks the first notable activity in the Mt. Gox cold wallet in years, raising renewed attention to the long-dormant funds associated with the infamous exchange.
The Mt. Gox cold wallet still holds a staggering 44,899 BTC, equivalent to around $2.84 billion at current market prices. This significant reserve of Bitcoin remains tied to the ongoing insolvency case, where creditors are waiting for compensation from the collapsed exchange.
The sudden transaction adds a layer of intrigue to the case, as the wallet had not seen substantial deposits or withdrawals in a prolonged period.
Besides the $367K transfer, smaller amounts were recorded in the transaction history, including transfers of 0.002 BTC and other minor figures, highlighting the ongoing internal wallet activity.
Additionally, records show a notable movement last month, when 1.265K BTC (worth about $75.36 million) was transferred from a Mt. Gox cold wallet to Bitstamp, a major cryptocurrency exchange. Such large movements suggest that handling of funds related to the Mt. Gox case is far from over.
The graph depicting the balance history of the wallet between 2016 and 2024 shows significant fluctuations. From 2016 to early 2018, the wallet’s balance remained low, under $2 billion.
However, between 2020 and 2021, the balance surged, peaking near $12 billion. This sharp increase aligned with the crypto market boom and rising interest in decentralized finance (DeFi). Despite the surge, the wallet’s value dropped significantly after 2021, reflecting market corrections.
Moreover, as of mid-2023, the wallet balance rose again to $8 billion before dropping sharply in 2024, signaling potential sell-offs. These fluctuations align with broader market trends and reflect the speculative nature of the assets still linked to the Mt. Gox collapse.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
