The bankrupt crypto exchange Mt. Gox moved another $ 932 million in bitcoins

The crypto market continues to fall, with its capitalization dropping to $ 2.44 trillion, the lowest level since early November. This caused massive liquidations of positions worth more than $ 937 million in just 24 hours. An additional concern was the movement of 11,833 BTC (about $ 932 million) from the wallets of the bankrupt Mt. Gox.

The last transactions of Mt. Gox included the transfer of 11,502 BTC (approximately $ 885 million) to a new wallet and 332 BTC ($ 25.5 million) to a hot wallet, which is usually used for active fund management. Last week, the exchange had already moved $ 1.07 billion in bitcoin, although Arkham Intelligence analysts did not initially identify the address as belonging to Mt. Gox.

Moving bitcoin BTC $96,799.56 Bitcoin 1.78% Market capitalization $1.92 trillion VOL. 24 hours $2 billion Mt. Gox is part of the process of returning funds to creditors who lost their assets due to the hacking and bankruptcy of the exchange. Five days ago, the exchange transferred 166.5 BTC to custodian BitGo, and analysts expect new transactions to be made in the near future for further payments.

The main concern is that the unlocking of significant volumes of bitcoin could cause additional market volatility if creditors decide to sell the funds en masse. They have been waiting for payments for years, and a new wave of sales could further affect the price of the cryptocurrency.

Some of the payments have already been made through the Kraken and Bitstamp exchanges, but the general deadline for refunds has been extended to October 31, 2025. The bankrupt exchange still holds $ 2.8 billion in bitcoin in its wallets, which remains an important factor for further market dynamics.