Mt. Gox Moves $1 Billion in Bitcoin – Crypto Community on High Alert!

Mt. Gox, the infamous crypto exchange that collapsed a decade ago, is on the move again—this time shifting over $1 billion in Bitcoin. According to Arkham Intelligence, the exchange transferred 12,000 BTC on March 6, with a shockingly low transaction fee of just $1.64.

With billions in Bitcoin still tied to the exchange, all eyes are on its wallets.

Where Did the Bitcoin Go?

Along with the main transfer, another 166.5 BTC (about $15 million) was sent to Mt. Gox’s cold wallet (1Jbez). The rest—11,834 BTC—went to an unknown wallet (1Mo1n).

Mt. Gox-linked wallets now hold 36,080 BTC, worth around $3.26 billion, according to Arkham data. This is the first major Bitcoin movement from these wallets in a month. The last transfer was just 4 BTC between cold wallets. The reason behind this latest move is unclear, but in December, Mt. Gox shifted 1,620 BTC through unknown wallets—just two weeks after moving 24,000 BTC.

Markets React to New Tariffs

The transfer happened during a turbulent week for Bitcoin, as new U.S. trade tariffs from President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President shook global markets. High-risk assets like crypto took a hit. Bitcoin’s price surged to $94,770 on March 3, then plunged to $82,681 on March 4 before recovering above $90,000 on March 5.

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A Decade Later, Creditors Still Waiting

Mt. Gox was once the biggest Bitcoin exchange, handling 70% of all BTC trades by 2013. But in early 2014, it suddenly stopped withdrawals and trading before shutting down completely. It later filed for bankruptcy, reporting the loss of over 800,000 BTC.

More than a decade later, creditors are still waiting for their funds. In October 2024, Mt. Gox announced a new repayment deadline—October 31, 2025—delaying hopes of a resolution once again.

A decade may have passed, but for Mt. Gox creditors, the wait for justice—and their Bitcoin—continues.