Key Takeaways
- Mt. Gok transferred over 2,300 BTC to an unidentified wallet, marking another significant transfer this month.
- The transfers coincide with the price of bitcoin reaching $100,000 amid potential Federal Reserve policy changes.
A wallet linked to defunct crypto exchange Mt. Gok moved 2,324 bitcoins worth $234 million to an unidentified wallet early Thursday, according to data from Arkham Intelligence. The latest transfer came amid bitcoin’s rally above $100,000, driven by an expected Fed rate cut following the latest inflation report.
The transfer followed Wednesday’s move of 2,623 bitcoins, worth approximately $255 million, from a wallet labeled Mt. Gok on two addresses, with about $10 million reaching B2C2.
The remaining funds were distributed to other addresses before reaching the wallet starting with “14jvfU”.
The defunct crypto exchange made several Bitcoin transfers this month, including Bitcoin worth $2.4 billion to an unknown wallet on December 5, and then over $350 million the next day.
After these activities, the wallet of Mt. Gok-a keeps about 36,000 BTC, worth $3.6 billion in his wallet.
Although the purpose of these transfers remains uncertain, historical data suggests that such movements often precede creditor repayments enabled by centralized exchanges such as Bitstamp and Kraken.
Mt. Gok recently extended the repayment deadline to October 31, 2025, pushing back the original target of October 31, 2024.
