Mt. Gox moves $2.4B in Bitcoin as BTC surged past $100K
2024-12-05

Long-collapsed crypto exchange Mt. Gox moved over 24,000 Bitcoin, worth nearly 2.47 billion, to an unknown address on Dec. 5 as the cryptocurrency hit a milestone of $100,000.
Arkham Intelligence data shows the exchange moved 24,051 Bitcoin BTCUSD to an unknown address starting with “1N7j” at 2:45 am UTC on Dec. 5 in its first transfer since Nov. 12.
Less than half an hour later, at 3:08 am UTC, Bitcoin hit a high of $104,000 on Coinbase, per TradingView.
It’s unknown why Mt. Gox, which fell into bankruptcy in early 2014, has moved part of its holdings, but past similar moves have been the precursor to the defunct exchange giving payouts to its creditors.
This is a developing story, and further information will be added as it becomes available.