The spell is broken: Mt Gox transferred Bitcoin!

Approximately 500 Bitcoin (BTC) was transferred from a cryptocurrency wallet associated with the defunct crypto company Mt Gox.

The crypto market started November with a downward trend. Bitcoin, which approached its all-time high in October, fell to $69,000 in November. The drop of over 4% in BTC created anxiety, while a transfer transaction that will create a bomb effect was on the agenda.

According to off-chain data, 35 million dollars worth of BTC was transferred from Mt Gox’s cold wallet to several unknown addresses during the bankruptcy process. It is unknown whether the shared transfer transaction by Arkham Intelligence is a potential sale or not.

Mt Gox lowered the price of Bitcoin

According to Arkham Intelligence data, Mt Gox’s cold wallet has been activated. Mt Gox transferred 31.78 BTC and 468.24 BTC to two different addresses. Arkham reported that there are approximately 44,905 BTC worth of 3.1 billion dollars in Mt Gox’s cold wallet.

The crypto exchange, which started repaying its creditors in July, made its first major transaction on August 20th. Approximately 12,000 BTC was transferred to a new crypto wallet on that date.

In early October, Mt Gox announced that it had postponed the reimbursement deadline for a year. While the deadline of October 31, 2025 has been set, **“Many creditors have still not received their refunds because they have not completed the necessary procedures to receive their refunds.” ** expressions were used. Despite the postponement decision, the transfer, which took place on the first day of November, attracted attention.

Mt. Gox’s first BTC transfer after a long hiatus strengthened the selling claims. BTC fell to $69,000 as panic selling increased.

Mt. Gox is known as one of the first Bitcoin exchanges in the world. The exchange accounted for 70% of global BTC transactions during its operation. The platform faced a series of security breaches and hacking incidents, leading to bankruptcy process.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.