Analysis of funds transferred out of Mt.Gox: Which addresses should be paid special attention to?

Starting last week, the highly-watched Mt.Gox exchange’s compensation work has begun. Part of the funds in its wallet address have been transferred to the exchange and will be paid to users within the next one to two months.

search.ichainfo.com tracked and analyzed the outflow of funds from the Mt.Gox exchange. Through the analysis of the fund flow, it was found that the funds in the Mt.Gox wallet mainly flowed into six addresses. Among them, the subsequent fund changes in four addresses require investors special attention.

The core address we analyzed is 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6, which is the early collection address of Mt.Gox exchange funds. On May 28 of this year, 141,619 bitcoins were collected in this address through 8 transactions.

Figure 1: Mt.Gox fund analysis chart, source: search.ichainfo.com

All bitcoins in this address have been transferred out. For example, the address received by Kraken Exchange on July 16 came from this address. The funds in this address have two main destinations. One is transferred to exchanges that support Mt.Gox compensation, including Kraken, BitBank and SBI VC Trade. The other is other addresses controlled by Mt.Gox.

Figure 2: There is no bitcoin in the address 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6 . Source: search.ichainfo.com

Among these destinations, search.ichainfo.com found that Mt.Gox’s funds mainly flowed into the following six addresses:

3JQieEzccKjFS34oW8KZSGBDndiH1YyFrE is suspected to be the Kraken exchange address. 48,641 BTC were transferred to this address on July 16. Currently, the funds have not been moved. We need to pay close attention to it in the future. The transfer of funds from this address may mean that Kraken has begun to compensate users for Bitcoin.

bc1qrv0v2l9ekrx3lnkeusrzvu2hqyha6ex94nxumlhec4mrye8njm7sn7e4v4 is the BitBank hot wallet address, with a total of 1,544 BTC transferred in.

34X3kp5PTrqR9dA9Zf9XwivpE6tnNJdHKB is the SBI VC Trade hot wallet address, with a total of 1,157 BTC transferred in.

18vjnBHWAxU4CPGPqF7Gp9JyqdVBHDct9b is the Mt.Gox cold wallet address, which currently holds 42,587 BTC. The transfer of funds from this address needs to be closely monitored.

1AsHPP7WcGnDLzxW2bUa2FcbJP3eZVEqpx is the Mt.Gox cold wallet address, which currently holds 47,228 BTC. The transfer of funds from this address needs to be closely monitored.

1HRAprcXCzx1YqYv7dcCcDzf3vYVGPv3b2 is the Mt.Gox cold wallet address, which currently holds 526 BTC. Although the amount of coins held is not large, the transfer of funds from this address also needs attention.

Figure 3: Mt.Gox main funds destination address, source: search.ichainfo.com

Although the market selling pressure caused by Mt.Goxs compensation for Bitcoin still exists, judging from the recent trend of Bitcoin, investors are still very optimistic that Bitcoin is gradually emerging from its previous lows.

By Auguste

Source: Analysis of Mt.Gox Outflow Funds: Which Addresses Require Special Attention?