Dormant Bitcoin Wallet Linked to Mt Gox Saga Moves $60 Million for the First Time Since 2013

Dormant Bitcoin Wallet Linked to Mt Gox Saga Moves $60 Million for the First Time Since 2013

Dormant Bitcoin Wallet Linked to Mt Gox Saga Moves $60 Million for the First Time Since 2013

According to onchain data, a bitcoin whale address transferred 2,071.5 bitcoin, worth approximately $60 million, after remaining dormant since December 19, 2013. Interestingly, this bitcoin address is linked to two wallets that sent 10,000 bitcoin last summer for the first time in nine years and are associated with the now-defunct exchange Mt Gox.

2,071 Bitcoin Spent on Wednesday Linked to the ‘1McUC’ Mt Gox-Associated Address

On April 19, 2023, at 4:45 p.m. (UTC), a previously inactive wallet since 2013 moved 2,071.5 BTC. The stash was valued at around $1.36 million when it first arrived at the address “1JdTW” and had grown to $60 million by the time of transfer on Wednesday. Several BTC parsers, including Btcparser.com caught the movement. Furthermore, Bitcoin.com News discussed it with blockchain researcher Taisia, the admin of the Telegram channel “GFISchannel.”

Dormant Bitcoin Wallet Linked to Mt Gox Saga Moves $60 Million for the First Time Since 2013
Screenshot of Taisia’s onchain analysis of the 2,071 BTC that moved on Wednesday, April 19, 2023.

Taisia identified that the funds were connected to the “1McUC” address that Bitcoin.com News reported on in August 2022. The “1McU” address is related to the now-defunct crypto exchange Mt Gox and may be connected to the exchange hack that took place on June 19, 2011. According to Taisia, the most intriguing aspect of the 2,071.5 BTC movement on Wednesday is its origin.

Taisia stated that examining the original chain of movements revealed two wallet groups previously identified leading to the same “1McU” address mentioned in two articles last year. “In my opinion and those of several blockchain analysts, this wallet belonged to Jed McCaleb, Mt Gox’s original owner and Ripple’s creator,” added the analyst.

Many people noticed the 2,071.5 BTC move, like Taisia; OXT researcher Ergo BTC also linked the transaction to the “1McUC” address. “First activity in this wallet sequence since last summer. 4K [bitcoin] left,” Ergo wrote. “[By the way,] this was a Kraken deposit,” Ergo added. Using our heuristics and onchain clustering tools, Bitcoin.com News can confirm that the funds are associated with the “1McUC” address and Mt Gox saga.

Tags in this story

2013 address, Bitcoin, Blockchain, Btcparser.com, Cryptocurrency, dormant wallet, Ergo BTC, Mt Gox, Mt Gox Bitcoin, Onchain data, OXT, Taisia, Transaction

What do you think about the significance of this recent movement of dormant bitcoin linked to Mt Gox? Share your thoughts in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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