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Mt. Gox Moves 10,422 BTC to Unmarked Wallets as Bitcoin Drops to $69,950

GateNews
Capital FlowOn-Chain Data
BTC-5.54%

According to CryptoQuant and on-chain monitoring tools, on June 2, Mt. Gox trustee transferred 10,422 BTC (approximately $739 million) to multiple unmarked, newly created wallet addresses. The move marks the exchange estate's first major on-chain activity since late 2024.

Bitcoin fell from $71,000 to $69,950 within one hour of the news, triggering cascading liquidations across leveraged long positions. On-chain data indicated the transferred BTC had not yet reached exchange order books as of the announcement.

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