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 J. Trump is a US-based business tycoon,  pro-crypto politician, and 47th (present) President of the United States. He comprehends the significance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto politician.   Once doubtful about Bitcoin's dominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his pool. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Famous For Business, Politics   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Slammed crypto king Bitcoin on X, calls it "not money".   2025 – A gala party was hosted by him for the top 220 Trump meme coin holders.   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.