A wallet connected to the infamous Mt. Gox hack is on the move again, with approximately 2,300 BTC silently transferred since early November 2025.
On-chain sleuths at Arkham Intelligence spotted the activity, with analyst Emmett Gallic leading the tracking efforts. The funds, worth hundreds of millions, aren’t being dumped all at once. Smart move.
The transfers appear calculated—small batches headed to unnamed exchanges. Some reports tracked 110 BTC moving in recent seven-day windows, while others tallied up to 1,300 BTC in similar timeframes. Discrepancies? Yeah, different analysts looking at different date ranges. Classic crypto chaos.
About 4,100 BTC remains in the wallet cluster, valued around $360 million at current prices. That’s still a massive war chest despite the recent outflows. The controller seems to be executing what analysts call a “phased liquidation” rather than panic-selling everything.
Who’s actually controlling these coins remains murky. Arrests related to the original Mt. Gox hack complicate attribution of the current wallet activity.
Could be the original hacker, could be someone who acquired the keys later, could be law enforcement. Nobody’s saying for sure. The wallet is associated with Alexander Bilyuchenko who was arrested in 2025, leading to uncertainty about who’s executing these transactions. The wallet’s high trading volume indicates significant investor interest despite its controversial origins.
The funds are being routed through multiple addresses before hitting exchanges, making them harder to track. It’s like watching a shell game played by someone who really doesn’t want to be found.
No major exchanges have publicly confirmed receiving these potentially tainted funds—not exactly surprising. The total value of Bitcoin recently deposited to exchanges is estimated at 114 million dollars.
CryptoBriefing, MEXC news, Gate, and KuCoin blog have all reported on the movements, mostly citing Arkham’s findings. The reports focus specifically on this wallet cluster, not the entire historical Mt. Gox hack which involved hundreds of thousands of Bitcoin.
The slow, methodical movement suggests whoever’s behind this is trying to cash out without tanking prices. Market impact has been minimal so far.
The crypto world watches and waits, wondering when—or if—the remaining 4,100 BTC will make its move.
