Crypto exchange Mt.Gox which went bankrupt in 2014 has been making Bitcoin transfers in the month of March. In a recent move, the exchange transferred more BTC two wallets as creditors await reimbursement after its collapse in 2014.
With the recent Bitcoin move by Mt.Gox serving as the third one this month, creditors do feel that they are about to get reimbursed. However, the general crypto market is keeping watch of the BTC for price volatility moving forward.
Mt.Gox’s $1.01B BTC Move and Its Preceding Transfers
As reported by Lookonchain earlier on March. 25, 2025, data on Arkham Intelligence shows that Mt.Gox moved another 11,501 BTC. This new transfer, which marks a third BTC transfer by the exchange in the month of March, was worth $1.01 billion as of the time of the transfer.
Out of the 11,501 BTC, the exchange transferred 10,608 BTC worth $927 million to a new wallet related to Mt.Gox. The remaining 893 BTC worth $78 million found its way into a hot wallet. This significant transfer of Bitcoin by the exchange comes after two preceding transfers in March.
In the first transfer that happened on March 6, Mt.Gox transferred 12,000 BTC which was worth $1.09 billion as per the Arkham Intelligence on-chain analytics. The exchange transferred 11833.6 BTC worth $1.07B to a new wallet. The other 166.5 BTC, worth $15.1 million was transferred to a cold wallet.
Subsequently, Mt.Gox made a second Bitcoin transfer on March 11. For this transfer, the firm moved 11,833.6 BTC worth $910 million whereby 332 BTC ($25 million) was deposited into the Bitstamp exchange and the rest (893 BTC) moved into a hot wallet.
The transfer into Bitstamp exchange raised liquidation concerns by Mt.Gox. But, there hasn’t been any further movement in any of these BTC transfers.
The Story of Mt.Gox; What Happened?
Once a famous Bitcoin exchange, Mt.Gox met its ‘dooms-day’ back in 2014 whereby hackers made away with 850,000 BTC. Following the hack, the exchange filed for bankruptcy thus leaving creditors in darkness for years. However, the firm started reimbursing the affected creditors last year.
The reimbursement process was supposed to come to an end at the end of October 2024, but the trustee overseeing Mt. Gox’s assets pushed it to a year earlier following a court approval. Mt.Gox has to reimburse its creditors by October. 31, 2025 as per the repayment deadline extension notice.
With the reimbursement deadline getting closer, the recent transfers by the exchange can be interpreted to assume that the exchange is just preparing to compensate its creditors who lost funds in the 2014 hack.
Data on Arkham Intelligence shows that Mt.Gox now owns 35,583 BTC. The current BTC holding is worth $3,118,187,407.33 at the moment.
BTC Price Movement Amidst Mt.Gox
Meanwhile, Mt.Gox’s Bitcoin transfer has had a small impact on the market. As of the time of this writing, Bitcoin is priced at $87,757.72 with a 1.06% dip on the day. BTC has also recorded $31.91 billion in trading volume over the last 24 hours hence marking a 27.73% surge.
With creditors affected by the 2014 hack expecting reimbursement, the market will keep an eye to identify any further BTC movement by Mt.Gox. Nonetheless, any sell-off by the Bitcoin exchange could stir the crypto market leading to surge in volatility around the price of BTC.
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