The cryptocurrency wallet of the largest hacked cryptocurrency exchange made a transaction after 10 years of inactivity

on November 23, a bitcoin wallet associated with the notorious BTC-e cryptocurrency exchange started to show activity again. The wallet, which is related to the hacking of the Mt. Gox hack in 2014, made the largest transaction since August 2017.

Around 10,000 BTC worth approximately $ 167 million were transferred to two unidentified recipients. The transactions were split — 3,500 BTC were transferred to multiple wallets, while the remaining 6,500 BTC were sent to a single address. CryptoQuant founder Kee Young Ju observed the bitcoin transfers and informed the crypto community on Twitter.

a 7-year-old $ 10, 000 BTC moved today.

No surprise, it’s from criminals, like most of the old Bitcoins. It’s the BTC exchange wallet related to the 2014 Mt. Gox hack.

They sent 65 BTC to @hitbtc a few hours ago, so it’s not a gov auction orsomething.https://t.co/6LnCxFAJfX https://t.co/YdPrvJafxY pic.twitter.com/Sp2higUqbq

— Ki Young Ju (@ki_young_ju) November 24, 2022

Ki Young Ju added that 65 BTC was sent to the account of the HitBTC cryptocurrency exchange a few hours ago. Ju recommended that HitBTC suspend the account due to suspicious activity.

The analyst expressed the opinion that the movement of old bitcoins was bearish, as the cryptocurrency was mined illegally. In addition, the owners of the BTC could not use KYC. When asked why the criminals didn’t withdraw cash when bitcoin prices were higher, the expert noted: «They (the criminals) received these bitcoins when the price was $ 297 in January 2015, and the price of BTC is now $ 16,617, which means it has increased by about 5,594%.»

Mt. Gox is the oldest cryptocurrency exchange that lost more than 850,000 BTC in a hack in 2014. Ten years later, in November 2021, the exchange released a «Rehabilitation Plan» to return about 137,000 BTC to investors. Representatives of Mt. Gox representatives are waiting for applications for the return of BTC until January 10, 2023, after which former customers who have not submitted a request will no longer be able to receive compensation.