Share this article
Mt. Gox Moves $2.8B in BTC Amid Bitcoin's Surge Past $100K
Defunct exchange Mt. Gox moves billions in BTC to an unknown address, raising alarm on crypto social media.
Updated Dec 5, 2024, 5:24 a.m. Published Dec 5, 2024, 5:16 a.m.
Make us preferred on Google
What to know:
- Mt. Gox moved $2.8 in BTC to an unknown address as prices rose into six figures, Arkham Intelligence data show.
- The defunct exchange still holds 39,878 BTC.
An address tied to long-defunct crypto exchange Mt. Gox moved large amounts of BTC to an unidentified address early Thursday as the cryptocurrency's price rose to six figures.
The address labelled as Mt. Gox (1FHOD) by analytics firm Arkham Intelligence moved 27,871 BTC worth $2.8 billion to another address: 1N7jWmv63mkMdsYzbNUVHbEYDQfcq1u8Yp. The exchange still holds 39,878 BTC worth over $4 billion at press time.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The latest outflow comes three weeks after the defunct exchange transferred 2,500 BTC to an unknown address and has grabbed eye balls on crypto social media. These on-chain movements are likely related to creditor reimbursements, which were a significant source of bearish pressure this summer. In October, Mt. Gox trustee postponed the deadline for creditor repayments by one year to Oct. 31, 2025.
BTC is not showing any sign of weakness as of writing, trading steady above $103,000, CoinDesk data show.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
