Dormant Mt Gox-linked wallet moves $60 million after nearly a decade

On April 19, 2023, at 4:45 p.m. (UTC), a Bitcoin wallet that had remained dormant since December 19, 2013, sprang to life as it transferred 2,071.5 BTC, worth approximately $60 million. This intriguing movement caught the attention of several BTC parsers, including Btcparser.com, and has been linked to two wallets that sent 10,000 Bitcoin last summer for the first time in nine years. These wallets are associated with the infamous crypto exchange, Mt Gox.

Connection to infamous Mt Gox exchange hack

The transaction on Wednesday saw the long-inactive wallet, connected to the ‘1McUC’ Mt Gox-associated address, spring into action. Originally valued at around $1.36 million when it first arrived at the “1JdTW” address, the stash had grown to $60 million by the time of the transfer. Blockchain researcher Taisia discussed the movement with the media saying that the funds were connected to the “1McUC” address.

 The “1McU” address is related to the now-defunct Mt Gox exchange and may be linked to the exchange hack that occurred on June 19, 2011. According to Taisia, the most fascinating aspect of the 2,071.5 BTC movement is its origin.

Upon examining the original chain of movements, Taisia discovered two wallet groups previously identified as 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.

The 2,071.5 BTC move captured the attention of many, including Taisia and OXT researcher Ergo BTC, who also linked the transaction to the “1McUC” address.

Ergo noted, “First activity in this wallet sequence since last summer. 4K [bitcoin] left,” adding that it was a Kraken deposit. Using heuristics and onchain clustering tools, Cryptopolitan can confirm that the funds are associated with the “1McUC” address and the Mt Gox saga.

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