Now-defunct cryptocurrency exchange Mt. Gox has transferred over 12,000 Bitcoin, valued at more than $1.2 billion, to a new wallet.
This transfer occurred earlier today. The trustees moved the assets from the wallet “1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb” to both a cold wallet and a new wallet identified as “1Mo1nW5ZM5m2tx9qMsYm2YJxGn3TeS9gR9.”
These transactions are among the largest since the exchange declared bankruptcy in 2014. Typically, such wallet transfers are conducted to consolidate holdings into new addresses before eventually being sent to cryptocurrency exchanges for open market trading.
Mt. Gox was once the leading crypto exchange globally, managing over 70% of all Bitcoin transactions in its early years.
