Unexpected volatility in the cryptocurrency markets: Mt. Gox moved 32,000 Bitcoin.

The latest move by Mt. Gox has caused a significant stir in the cryptocurrency markets. The exchange, which went bankrupt in 2014 after losing 850,000 BTC and leaving thousands of investors at a loss, recently postponed the repayment date to October 31, 2025. Now, it has triggered concerns of a potential mass sale by executing a massive Bitcoin transfer.

The Countdown for Mt. Gox Creditors Has Begun

Looking at the details of the transfer, it appears that approximately 30,371 BTC was transferred to one wallet address, while 2,000 BTC was transferred to Mt. Gox's cold wallet. The 2,000 BTC was later moved to an unmarked wallet.

This move represents the largest transfer seen from Mt. Gox in months. In the past, similar movements have led to repayments through centralized exchanges like Bitstamp and Kraken.

Mt. Gox was established in 2010 and operated as the world's largest Bitcoin exchange until 2014. Due to a security breach, at least 850,000 BTC was lost. Since then, thousands of creditors have been waiting for the return of their assets.