Mt. Gox, the Bitcoin exchange that collapsed in 2014, transferred at least 42,830 BTC, valued at approximately $2.9 billion, from its cold wallets.

This marked the first transfer in five years, as reported by Arkham Intelligence. The move is notable since Mt. Gox still holds around $9.42 billion worth of Bitcoin in its monitored wallets. Founded in 2010, Mt.

Gox quickly became the largest Bitcoin exchange by 2013, managing 70% of all Bitcoin transactions globally. However, in early 2014, the exchange halted all withdrawals and went offline, eventually filing for bankruptcy after losing over 800,000 Bitcoins.

In related news, Bitcoin's price dropped, prompting commentary from analyst il Capo. In September 2023, the trustee of Mt. Gox announced a 12-month extension for the repayment period, now set to end on October 31, 2024, allowing creditors more time to prepare.

The trustee has not commented on the recent Bitcoin transfer, and the motives behind it remain unknown, causing speculation within the cryptocurrency community.

The $2.9 billion transfer from Mt. Gox's cold wallets raised significant concerns and led to a drop in Bitcoin's price, highlighting the ongoing impact of Mt. Gox's legacy on the digital asset market. This information is not intended as investment advice.