Approximately 500 Bitcoin (BTC) was transferred from a crypto wallet associated with sunken crypto firm Mt Gox.
The crypto market had a bearish start to November. Bitcoin, which approached its all-time high in October, fell to 69 thousand dollars in November. While the drop of over 4 percent in BTC created anxiety, a transfer transaction that would have a bomb effect was on the agenda.
According to on-chain data, $35 million worth of BTC was transferred from the cold wallet of Mt Gox, which is in bankruptcy process, to several unknown addresses. It is unknown whether the transfer transaction shared by Arkham Intelligence is a potential sale.
Mt Gox dropped Bitcoin price
According to Arkham Intelligence data, Mt Gox’s cold wallet has been activated. Mt Gox transferred 31.78 BTC and 468.24 BTC to two different addresses. Arkham reported that Mt Gox had 44,905 BTC in its cold wallet, worth approximately $3.1 billion.
The defunct crypto exchange made its first major transaction on August 20 since July, when it began paying back its creditors. On the date in question, approximately 12 thousand BTC was moved to a new crypto wallet.
Making a statement at the beginning of October, Mt Gox postponed the refund period for one year. While October 31, 2025 was determined as the deadline, “Many creditors have still not received their refunds because they have not completed the necessary procedures to receive their refunds.” expressions were used. Despite the postponement decision, the transfer made on the first day of November attracted attention.
The fact that Mt Gox moved BTC for the first time after a long time strengthened the sales claims. BTC fell to 69 thousand dollars as panic sales increased.
Mt Gox is known as one of the first Bitcoin exchanges in the world. During its operation, the exchange processed 70 percent of global BTC transactions. The platform entered the bankruptcy process after facing a series of security breaches and hacking incidents.
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