The long-defunct Mt. Gox exchange has shifted a massive $1 billion worth of Bitcoin

This development comes as U.S. President Donald Trump's trade tariffs, which went into force on Mar. 4, are causing volatility in the cryptocurrency markets and

Long-defunct Mt. Gox exchange has shifted a massive 12,000 Bitcoin (BTC), worth around $1 billion, in its first major transaction in over a month.

On Monday, blockchain analytics firm Arkham Intelligence flagged the movement of 12,000 Bitcoin (BTC) from a Mt. Gox-linked wallet (1PuQB). The transaction, which cost just $1.64 in fees, distributed 166.5 BTC to the exchange’s cold storage (1Jbez), while the remaining 11,834 BTC was sent to an unknown wallet (1Mo1n).

ARKHAM ALERT: MT GOX MOVING $1B $BTC pic.twitter.com/VpIkHdJQkl

Mt. Gox-affiliated wallets now hold around 36,080 BTC, valued at approximately $3.26 billion, according to Arkham Intelligence data.

This is the first activity from these wallets since a minor 4 BTC transfer between cold storage addresses in January. The reason behind the latest transaction remains unclear. In December, Mt. Gox moved 1,620 BTC through unidentified addresses, just weeks after shifting over 24,000 BTC.

Mt. Gox, once the biggest Bitcoin exchange, went down in 2014 after losing more than 800,000 Bitcoin. Creditors are still seeking repayments after years of a protracted bankruptcy process.

The payback deadline was recently extended from Oct. 31, 2024, to Oct. 31, 2025, by the trustee in charge of Mt. Gox’s funds. Some creditors are still awaiting Bitcoin or Bitcoin Cash (BCH) disbursements, while others have already received fiat repayments.

While previous Bitcoin movements tied to Mt. Gox have caused market reactions, current transfers did not have an immediate effect on BTC prices. However, traders are keeping an eye on potential sell-offs if full repayments begin.

This development comes as U.S. President Donald Trump’s trade tariffs, which went into force on Mon., Mar. 4, are causing volatility in the cryptocurrency markets and disturbing risk assets. This week, Bitcoin fluctuated significantly, peaking at $94,769 on Mon., Mar. 3, and falling to $82,681 on Mon., Mar. 4, amid Trump tariffs concerns.

According to crypto.news price tracker, it has again risen above $90,000 and is currently trading at $91,224, up 4% in the last 24 hours.