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Another 5,000 Bitcoins From Mt Gox Awaken After Nearly 9 Years Dormant – Bitcoin News


Last week, Bitcoin.com News reported on two old bitcoin addresses created in 2013 sending 10,001 bitcoins to myriad wallets. Heuristics and clustering techniques indicate that bitcoins were associated with Mt Gox, around the same time the exchange was hacked in June 2011. Five days later, 5,000 bitcoins were transferred from a wallet created on the same day in 2013, and the stash of the coins was also tied to Mount Gox in some way.

The Onchain tale of 15,001 bitcoins associated with the Mt Gox saga

Another 5,000 so-called “sleepy bitcoins,” from a wallet created on December 19, 2013, were transferred on September 4, 2022. The action, captured by Btcparser.com, took place five days after the move of 10 001 bitcoins (BTC) from two bitcoin addresses created almost nine years ago on the same day in 2013. The 5,000 BTC sent on Sunday September 4, 2022 has a mysterious history as it is associated with the former bitcoin exchange Mt Gox around the same time the Exchange was hacked in June 2011.

In June 2011, Mt Gox was hacked and reports at the time indicated that 25,000 BTC had been stolen from the exchange which had been hijacked from 478 accounts. After the breach, an individual posted the Mt Gox user base to Pastebin in the clear with hashed passwords. On Sunday, June 19, 2011, Mt Gox experienced volatile trading activity and on that day the price of BTC fell from $17 per unit to $0.01 per unit. 2,000 BTC was also stolen on June 19, 2011. The BTC address “1McUC” is somehow associated with the Mt Gox saga and was created on June 19, 2011. The bitcoin address “1McUC” is also connected to the 15 001 BTC which moved on August 28, August 29 and September 4, 2022.

When our news desk reported on the 10,001 BTC associated with Mt Gox, there wasn’t much fanfare about the coins moving. Coindesk columnist Jocelyn Yang, however, discussed the situation with a data engineer at Coin Metrics. The engineer said bitcoins from 2013 may have been associated with “an old Kraken cold storage address, a Kraken OTC deal (over the counter), [or] a Kraken user. Then on September 3, 2022, the OXT researcher Ergobtc published a Twitter feed which quotes our report quoting OXT user Taisia, the admin of the GFISchannel Telegram group.

“Referring to the work of knowledgeable OXT user, bitcoin.com [is] much closer to the mark than Coindesk,” Ergobtc said. “Despite a Kraken deposit, these coins are not from Kraken. They are however from Mt Gox and possibly controlled by Jeb McCaleb.

Ergobtc then discussed the two addresses (1, and 2) and explained how OXT can trace back the source of coins. “This leads to a large cluster with user annotation,” Ergobtc details. “The user’s annotation to this cluster links to a blog post by @wizsecurity Blog. Wizsec is the expert on the Mt Gox saga. The blog post refers to an address belonging to Jeb McCaleb and falsely claimed by CSW.

The Twitter thread further explains that the second 5,000 BTC transaction was “clearly made at Coinbase.” The OXT Researcher added:

Evidenced by the revealing split of the denomination with secondary splits up to 10 BTC. Splits are co-spent with Coinbase clustered addresses. These coins are from the Gox saga and are possibly controlled by Jeb McCaleb. Two txs for 5K BTC were sent to Kraken and Coinbase.

Another strange transaction associated with Mt Gox moves on September 4

At block height 752,637 on September 4, 2022, 5,000 BTC was sent from “18xGH” and the address was created on the same day (December 19, 2013) as the two addresses that sent 10,001 BTC on Sunday August 28 and Monday. , August 29, 2022. In addition, reversing the transactions, the 5,000 BTC is also linked to the Mt Gox saga and the “1McUC” address. At the time of writing, the “bc1qp” address held 4,929.43 BTC from the 5,000 sent on Sunday. At 8:00 a.m. ET on Monday morning, the coins were scattered across a myriad of multi-signature bitcoin addresses. Bitcoin.com News spoke with GFISchannel telegram group administrator Taisia ​​about the latest move.

Onchain visual provided by GFISchannel admin Taisia.

“The situation is quite strange,” Taisia ​​told Bitcoin.com News. “The developer of oxt.me has confirmed to us that in his opinion bitcoins are indeed linked to Mt Gox, and may belong to Jed McCaleb.” The GFISchannel admin also said she spoke with former Mt Gox CEO Mark Karpeles who “did not directly confirm this information, although he did not rule out that she is “close to the truth”.

“If this is really McCaleb’s bitcoin, why isn’t he making a statement to stop speculation on this topic?” Taisia ​​asked during her chat with Bitcoin.com News. “And, coming back to the original question, why are all these movements going on right now? In the midst of FUD with administrator payments and Vinnick’s recent extradition to the United States.

Once again, blockchain analyzer, onchain analysis and heuristics discovered thousands of bitcoins with interesting pasts. Those old bitcoins that have been dormant for nearly nine years only to wake up when BTC is trading for $19.9,000. It should be noted that these coins have absolutely nothing to do with the bitcoin payouts associated with the Mt Gox admin, except for a simple coincidence with the latest admin update. Currently, Mt Gox creditors have not seen a specific date set for distribution of payments, despite rumors and inaccurate reports last week that this was the case.

Keywords in this story

“18xGH”, 10001 BTC, 134K, 1McUC address, 2011, 2011 hack, 2011 Mt Gox Breach, 2013, 2022, 5000 BTC, Bitcoin, Bitcoin (BTC), BTC-e Exchange, BTCparser, Btcparser.com, Cryptocurrency, Ergobtc , GFISchannel, gfoundinsh*t, Jed McCaleb, Mt Gox, Mt Gox Stash, Onchain Movements, Onchain Research, OXT, OXT Researcher, September 4th, Stash, Taisia, Wex, whale, Whales

What do you think of the whale that moved 15,001 bitcoins this week and the association with Mt Gox? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News about disruptive protocols emerging today.




Image credits: Shutterstock, Pixabay, Wiki Commons, GFISchannel, OXT

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