Wallet addresses allegedly linked to the Mt. Gox hack continue to draw attention as they transferred approximately 1,300 Bitcoin. According to an analysis published on December 24th by Emmett Gallic, an on-chain data analyst at Arkham, entities linked to Aleksey Bilyuchenko – the hacker indicted by the US Department of Justice in the Mt. Gox attack – transferred a total of 1,300 BTC, equivalent to approximately $114 million at current market prices, to an unidentified exchange over the past seven days.
Public blockchain data shows that this group of wallet addresses still holds approximately 4,100 BTC, worth roughly $360 million, despite having previously sold a total of around 2,300 BTC. The continuous movement and liquidation of Bitcoin related to Mt. Gox is being closely monitored by investors, as it represents one of the largest surviving "historical supplies" from the early days of Bitcoin. Each sale could have a significant psychological impact, especially in a market sensitive to large inflows from whales or wallets with complex legal issues.
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Aleksey Bilyuchenko is a name associated with numerous scandals in the history of cryptocurrency. According to publicly available documents, he and Alexander Vinnik operated the BTC-e exchange from 2011. BTC-e was once XEM one of the world's largest Bitcoin exchanges in its early days, but it also became notorious for allegedly being a money laundering hub for global cybercrime activities. Numerous indictments alleged that BTC-e was used to process funds related to ransomware, identity theft, drug trafficking, and other illegal activities. Ultimately, the exchange was dismantled and forced to close in 2017 by a coordinated effort of international law enforcement agencies.
