Mt. Gox Transfers Over 140,000 BTC from Cold Wallet After Two Weeks of Dormancy, Prompting Market Concerns
In a span of three hours on July 16, Mt. Gox transferred more than 140,000 Bitcoin, valued at nearly $9 billion, to a known cold wallet and two undisclosed addresses.
According to data from Arkham Intelligence, Mt. Gox still retains 138,985 Bitcoin (BTC) in its primary wallet, equivalent to approximately $8.7 billion, and has initiated fund movements for the first time in two weeks.
Two transactions saw nearly 96,000 BTC, worth over $6 billion, moved to two undisclosed wallets, while an initial 44,527 BTC was transferred to a verified Mt. Gox cold wallet.
Arkham Intelligence data illustrating the movement of over 140,000 BTC in the last three hours. Source: Arkham Intelligence.
Related: Bitcoin price CPI gains only last an hour amid lingering fears of Mt. Gox sell-off
Over $6 billion transferred in two hours
The cumulative value of Mt. Gox’s BTC transactions on July 16 totaled nearly 190,000 BTC, translating to over $12 billion transferred within just three hours.
One of the undisclosed addresses, ending with “BHDct9b,” received 42,587 BTC valued at $2.69 billion, while the remaining 4,641.24 BTC worth $293.94 million was sent to “Mt. Gox: Cold Wallet (1Jbez).”
As of now, the “BHDct9b” address has not yet moved the 42,587 BTC, but the market’s apprehension has caused a decline in BTC’s value as sentiment surrounding the cryptocurrency shifts.
Shortly thereafter, an additional 48,641 BTC was transferred to another undisclosed address, moving an additional $3.07 billion from Mt. Gox’s primary wallet.
