Massive $200 Million BTC Transaction Linked to Dormant Mt. Gox Account
CryptoNewsTerminal Staff13 Aug, 2024
Massive $200 Million BTC Transaction Linked to Dormant Mt. Gox Account
Blockchain analytics firm Arkham Intelligence (ARKM) revealed via Twitter on January 10, 2023, that a massive transaction worth approximately $200 million in Bitcoin (BTC) was transferred from a dormant wallet believed to be linked to the defunct Mt. Gox exchange. The transaction, which involved the movement of 5,000 BTC, has raised questions about the origin and destination of the funds, sparking speculation that the coins may have been dormant since the infamous Mt. Gox hack in 2014. The Mt. Gox hack remains one of the most significant security breaches in cryptocurrency history, with over 850,000 BTC stolen from the exchange. The incident sent shockwaves through the crypto community and contributed to a significant decline in the price of Bitcoin at the time. If confirmed, the recent transaction would mark a significant development in the Mt. Gox saga, as it could potentially involve the movement of stolen funds from the hack. The investigation into the transaction is ongoing, and further details are expected to emerge in the coming days.
