17:00 ▪
3
min reading ▪ by
Evans S.
Since its fall in 2014, the ghost of Mt. Gox continues to loom over the crypto market. Each movement of its Bitcoins raises questions and speculations, awakening old demons among investors. Latest episode to date: the transfer of 1,620 BTC for a value of 172 million dollars, just after a new record for Bitcoin around 107,000 dollars. Enough to agitate the markets without shaking their stability.
A mysterious transfer that intrigues
Mt. Gox, this cryptocurrency exchange that has been bankrupt for more than a decade, is still far from having completely disappeared from the radar.
On December 17, she transferred approximately 1 620 BTC via anonymous addresses, in two separate transactions. The first, with a volume of 1,427.9 BTC, passed through several wallets before landing in an address starting with « 1DeY ».
The second, of 191.7 bitcoins, followed an even more fragmented path, ending up in an unknown address called “ 1KLr ».
Does the platform use these movements to prepare reimbursements? Mystery. Because historically, such actions have preceded distributions to creditors, but without ever arousing as much interest. The timing leaves one wondering: these transfers come barely a few hours after Bitcoin flirted with its new all-time high.
Mt. Gox: a lingering shadow over Bitcoin?
With more than 36 000 BTC still under his control, Mt. Gox remains a dormant but powerful player. Every major move triggers fears of downward pressure in the market.
Yet, contrary to expectations, Bitcoin has remained surprisingly stable, oscillating around the 106 500 dollars after this massive transfer. A situation which suggests that the markets are now more resilient in the face of “historic” shocks in the crypto ecosystem.
Creditors, for their part, are still patiently waiting for their repayments. Initially scheduled for 2023, the deadline was pushed back to October 31, 2025. At issue: complex procedures and a certain number of creditors who have still not completed the necessary formalities to receive their funds.
If the movements of Mt. Gox continue to be talked about, they are no longer able to shake the fundamentals of Bitcoin. A resilience that testifies to the growing maturity of the market in the face of the ghosts of the past. But one question remains unanswered: are these mysterious transfers a harbinger of a massive reimbursement or simply another episode in an endless saga? To be continued…
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Evans S.
Fascinated by bitcoin since 2017, Evariste has continued to research the subject. If his first interest was in trading, he is now actively trying to understand all the advances centered on cryptocurrencies. As an editor, he aspires to continually deliver high-quality work that reflects the state of the industry as a whole.
