Mt. Gox Transfers 11,833.6 BTC Valued at $931 Million

Mt. Gox has transferred 11,833.6 BTC, valued at approximately $931 million, to new addresses, raising concerns within the cryptocurrency community.

Transfer Details

The first transaction involved 11,501.58 BTC (about $905 million) sent to an unknown wallet.
The second transaction consisted of 332 BTC (approximately $26.1 million) sent to a hot wallet.
These transfers follow a previous transaction on March 6, where Mt. Gox moved over $1 billion in Bitcoin.
Mt. Gox currently holds around 35,915 BTC, worth about $2.85 billion.

Market Reaction

Investors have historically worried about potential sell-offs from Mt. Gox affecting Bitcoin prices. However, the market's immediate reaction to these transfers has been minimal, suggesting that these events may already be priced in or that sales have not yet occurred.

Background Information

Mt. Gox once handled 80% of all Bitcoin transactions globally but became insolvent after losing around 850,000 BTC due to a security breach from 2011 to 2014.
The exchange filed for bankruptcy, leaving many creditors in difficult financial situations.
Efforts to reimburse creditors are ongoing, and recent fund movements are closely monitored for their potential market impact.

Industry Context

The transfer highlights ongoing concerns regarding the security of cryptocurrency exchanges, especially following other significant breaches, such as the $1.5 billion theft from Bybit in February 2025.