Mt. Gox on Monday transferred 2,500 BTC, equivalent to $222 million, to two unknown wallet addresses. This is the fifth time this month that the exchange has moved a large amount of Bitcoin to another address.
According to Arkham Intelligence, the transfer occurred at 11:43 p.m. EST and one of the wallets, “1PQZw…DDJtK,” has already moved the Bitcoins to other addresses.
Mt. Gox has been conducting similar transfers since Oct. 31, with last week’s movements being the largest seen in months, totaling over $2 billion.
While it is uncertain if this transfer is related to future distributions to creditors, previous transfers have preceded repayments through centralized exchanges like Bitstamp and Kraken. In October, the defunct exchange extended its repayment deadline from Oct. 31, 2024 to Oct. 31, 2025.
