10,000 BTC leaves crypto wallet linked to Mt. Gox hack

The crypto sat idle in the account for over seven years and with the move, a majority ended up in personal wallets.

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A crypto wallet owned by closed crypto exchange BTC-e just transferred 10,000 bitcoins (BTC), currently worth over $165 million, to various exchanges, personal wallets, and other sources on the 23rd November.

A November 23 Chainalysis report suggests this is the largest withdrawal by BTC-e since April 2018, BTC-e and WEX – an exchange believed to be the successor to BTC-e – both sent small amounts of BTC to Russian electronic payment service Webmoney on October 26 before making a test payment on November 11, then transferring an additional 100 BTC on November 21.

The movement of BTC owned by BTC-e and WEX wallets. Image: Chain analysis

Of the total amount sent, 9,950 BTC is believed to still be in personal wallets, while the rest has passed through intermediaries before ending up at four deposit addresses at two major exchanges.

Co-founder and CEO of blockchain analytics firm Cryptoquant, Ki Young Ju, also verified the results noting that 0.6% of funds were sent to exchanges and may represent sell-side liquidity.

In a tweet on November 24, Young Ju shared images of the transfer highlighting that BTC had been in the wallet for over seven years.

$10,000 7-year BTC transferred today.

No surprise, it comes from criminals, like most old Bitcoins. This is the BTC-e exchange wallet linked to the 2014 Mt. Gox hack.

They sent 65 BTC to