Mt. Gox Moves 27,871 Bitcoins Worth IDR 44.8 Trillion

Mt Gox transfers thousands of Bitcoins. (Photo; Doc. Gizmodo)

JAKARTA - The crypto exchange that was victorious in 2010 - 2014, Mt. Gox, has again become a topic of conversation after the crypto wallet related to the company moved 27,871 Bitcoins (BTC) with a total value of US$2.8 billion or Rp44.8 trillion.

Meanwhile, Arkham Intelligent reported, more than 24,000 BTC (USD 2.4 billion or IDR 38.4 trillion) was sent to an unknown address. This movement occurs when the price of Bitcoin reaches a record high of 103,000 (IDR 1.648 billion) per coin.

For additional information, Mt. Gox, who went bankrupt in 2014, lost 850,000 BTC due to a series of cyberattacks, reportedly still holds around 39,878 BTC with a value of US$4.1 billion (Rp65.6 trillion).

Until now, Mt. Gox is still undergoing a long process of eliminating the loss of thousands of its users. The deadline for this payment has been extended from October 2024 to October 2025 as reported by CryptoBriefing.

This transfer adds to the long list of Mt crypto wallet transaction activities. Gox, following the transfer of 2,500 BTC (222 million US dollars or Rp3.55 trillion) last November. Although this kind of movement previously often put pressure on the market, this time the impact was relatively small. Even so, many parties remain aware of the possibility of market volatility if compensation starts to be fully distributed, especially if creditors decide to sell their assets in large quantities.

Mt. Gox in its heyday dominated 70% of global Bitcoin transactions before collapsing due to hacking. Although part of the lost BTC has been successfully restored, the refund process to users has not yet been completed. Analysts and the crypto community are now continuing to monitor Mt's steps. Gox, which has the potential to be the main catalyst for changing the price of Bitcoin going forward.