Mt Gox transfers 35 million USD worth of BTC to unmarked address

CoinWorld reports:
Author: Martin Young, CoinTelegraph; Translation: Deng Tong,
Bitcoin associated with the defunct Mt. Gox exchange has started to flow again, according to on-chain data.
On November 1, a transfer of Bitcoin valued at $35 million was made to several unknown addresses.
Blockchain intelligence platform Arkham revealed that 500 Bitcoins, worth approximately $35 million, were moved from the Mt. Gox cold wallet to an unmarked address beginning with “12cTj.”
Shortly after, two transactions were made for 31.78 BTC and 468.24 BTC, transferred to two unmarked addresses. This marks the first significant currency transfer from Mt. Gox-associated wallets in about a month.
According to Arkham, approximately 44,905 BTC, valued at around $3.1 billion, remains in Mt. Gox marked addresses.



Mt. Gox BTC transfer. Source: Arkham Intelligence
The now-defunct cryptocurrency exchange transferred around 12,000 tokens, valued at approximately $700 million at the time, to a new unknown wallet address on August 20, marking the first significant transaction since the end of July when the trustee managing Mt. Gox’s assets began distributing funds to creditors.
Earlier this month, Mt. Gox postponed the deadline for repaying creditors by a year, extending the deadline for returning funds to October 31, 2025.
An official statement noted, “Many creditors have yet to receive repayment because they have not completed the necessary procedures to obtain repayment.”
It also mentioned “system issues” that caused some creditors to receive double payments. The trustee acknowledged the errors and requested that recipients return the overpaid funds.
The platform was one of the first Bitcoin exchanges in the world and once handled approximately 70% of global BTC transactions. The system faced a series of security vulnerabilities and hacking attacks, which led to the suspension of withdrawals and its eventual closure in 2014.
The repayment process of Mt. Gox and the potential liquidation of BTC have raised significant concerns regarding their impact on spot prices.