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Another 5,000 Bitcoin Sourced From Mt Gox Wake up After Close to 9 Years of Dormancy – Bitcoin News

Another 5,000 Bitcoin Sourced From Mt Gox Wake up After Close to 9 Years of Dormancy – Bitcoin News

Last week Bitcoin.com News reported on two old bitcoin addresses created in 2013 sending 10,001 bitcoin to a myriad of wallets. Heuristics and clustering techniques indicate that the bitcoins were associated with Mt Gox, roughly 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 coins were also connected to Mt Gox in some type of fashion.

The Onchain Tale of 15,001 Bitcoin Associated With the Mt Gox Saga

Another 5,000 so-called ‘sleeping bitcoins,’ from a wallet created on December 19, 2013, were transferred on September 4, 2022. The action, caught by Btcparser.com, took place five days after 10,001 bitcoin (BTC) moved from two bitcoin addresses created close to nine years ago on the same day in 2013. The 5,000 BTC sent on Sunday, September 4, 2022, have a mysterious history as they are associated with the now-defunct Mt Gox bitcoin exchange right around the same time the exchange was hacked in June 2011.

In June 2011, Mt Gox was hacked and reports at the time noted that 25,000 BTC was stolen from the exchange that was siphoned out of 478 accounts. After the breach, an individual published the Mt Gox userbase on Pastebin in plaintext with hashed passwords. On Sunday, June 19, 2011, Mt Gox saw volatile trading activity and that day, BTC’s price dropped from $17 per unit to $0.01 per unit. 2,000 BTC was stolen on June 19, 2011, as well. 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 that moved on August 28, August 29, and September 4, 2022.

When our newsdesk 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 the bitcoins from 2013 may have been associated with “an old Kraken cold storage address, a Kraken OTC (over the counter) deal, [or] a Kraken user.” Then on September 3, 2022, the OXT researcher Ergobtc published a Twitter Thread that cites our report quoting OXT user Taisia, the admin of the GFISchannel Telegram group.

“By referring to the work of a well-informed OXT user, bitcoin.com [is] much closer to the mark than Coindesk,” Ergobtc said. “Despite a Kraken deposit, these coins are not sourced from Kraken. They…

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