Mt. Gox, a defunct cryptocurrency exchange, made a significant move on the blockchain, transferring approximately 10,608 Bitcoin worth $950 million to a new wallet address. This transfer comes as bitcoin’s spot price continues to slide under $90,000.
In the past, such large movements by Mt. Gox have been seen as a sign that repayments to creditors are imminent. However, it is unclear if this recent move is directly related to these payments. The timing of the transfer is also unfortunate, given the current market downturn.
Mt. Gox suffered a hack in 2014, resulting in the loss of around 850,000 Bitcoin. Repayment efforts began last year with a deadline for claimants in 2026. The exchange still holds approximately 34,689 Bitcoin worth nearly $3.1 billion across various wallets.
This on-chain movement has added to market speculation about potential repayments to creditors and subsequent sell-offs. As bitcoin’s price continues to decline, investors are watching closely for any developments that might impact the cryptocurrency market.
Source: https://www.coindesk.com/markets/2025/11/18/mt-gox-moves-usd956m-worth-of-btc-as-prices-tank