A cold wallet linked to Mt. Gox, the defunct cryptocurrency exchange, moved over $2 billion worth of bitcoin on Sunday, raising speculation that creditor repayments may soon resume.
Data from Arkham Intelligence reveals that at 11:39 p.m. UTC, a wallet tagged “1FG2C…Rveoy” transferred approximately 27,871 BTC (valued at $2.24 billion) to a new address, “1Fhod…QLFRT,” and an additional 2,500 BTC (around $200 million) to Mt. Gox’s cold wallet. This activity follows the wallet’s receipt of a combined 30,371 BTC from Mt. Gox just six days prior.
The transaction is part of a recent increase in activity across Mt. Gox-linked wallets, which had been dormant since the end of October, stirring creditor hopes of upcoming payouts.
Although it remains unconfirmed whether this transfer is linked to repayment plans, previous movements of this kind have often signaled impending creditor distributions, often processed via major exchanges such as Bitstamp and Kraken.
Mt. Gox, once the largest bitcoin exchange worldwide, suffered a major security breach in 2014, resulting in the loss of 850,000 BTC and impacting thousands of creditors.
This month’s transactions come amid ongoing delays in the repayment timeline; the latest adjustment moved the deadline from October 31, 2024, to October 31, 2025. The exchange currently holds 44,378 BTC, according to Arkham data, which remains earmarked for creditor repayments.
