Mt. Gox Hacker Wallet Sells $2,300 Bitcoin in Unnoticed Transaction

TLDR

• Mt. Gox hacker’s wallet quietly sold 2,300 BTC in a month, transferring 110 BTC in the last week alone.
• Remaining 4,100 BTC in Mt. Gox hacker’s wallet worth $360M, raising market liquidity concerns.
• Unknown exchanges used for Bitcoin liquidations by Mt. Gox hacker-linked wallet, complicating tracking.
• Bilyuchenko’s Bitcoin sell-off could create downward price pressure in weak liquidity conditions.

A wallet associated with Aleksey Bilyuchenko, the hacker allegedly involved in the 2014 Mt. Gox breach, has discreetly sold over 2,300 Bitcoin (BTC) in recent weeks. This series of transactions, occurring across multiple unidentified exchanges, has raised concerns within the crypto community about its potential impact on market stability. The wallet, still holding 4,100 BTC valued at $360 million, has continued to execute these trades, sparking speculation over the future of the remaining assets.

Gradual and Methodical Bitcoin Liquidation

Since early November 2025, Bilyuchenko’s wallet has quietly offloaded a substantial amount of Bitcoin. According to Emmett Gallic, an analyst with Arkham Intelligence, the hacker’s wallet has transferred approximately 2,300 BTC in the past month alone. In the last seven days, around 110 BTC, equivalent to $114 million, were sent to unidentified exchanges.

The liquidation appears intentional and phased, suggesting a deliberate approach rather than a sudden dump of assets. Analysts believe the strategy aims to avoid large-scale market disruption. 

The gradual movement of these funds is seen as a controlled liquidation, with the possibility of continuing in the coming weeks or months, depending on market conditions. Bilyuchenko’s remaining 4,100 BTC is expected to be liquidated at a similar pace, which may influence market liquidity and Bitcoin prices over time.

Uncertainty Surrounding Wallet Ownership and Control

Despite the ongoing transfers, it remains unclear who currently controls the wallet linked to Bilyuchenko. The hacker, who was arrested in Russia in 2025, had many of his assets seized, but it is unknown whether he retains control over this wallet or if another party is executing these transactions. The lack of clarity on the wallet’s current ownership has raised further concerns about the legitimacy of the transfers and the possibility of market manipulation.

Although the wallet is associated with Bilyuchenko, his arrest and the seizure of assets suggest that another party could be responsible for the recent transactions. The use of obscure exchanges adds to the uncertainty, making it difficult to track the exact nature of the transactions or the identity of the involved parties. This ambiguity has left the crypto community cautious, as they try to assess the risks of such large movements happening without clear accountability.

Potential Market Risks and Liquidity Concerns

The ongoing liquidation of Bitcoin by Bilyuchenko’s wallet raises concerns about potential risks to market liquidity. While Bitcoin’s daily trading volume has been robust, averaging $155 billion in Q3 2025, large-scale liquidations could still impact the price, particularly during periods of low market liquidity. 

If the Bitcoin being sold on unknown exchanges suddenly floods the market, it could place downward pressure on Bitcoin’s value, especially if it coincides with other macroeconomic factors like geopolitical tension or shifts in Federal Reserve policy.

The relatively slow and controlled pace of the liquidation provides a buffer, but traders and investors remain wary of hidden risks. Analysts caution that while Bitcoin’s liquidity is strong, the cumulative effect of Bilyuchenko’s ongoing sell-off, combined with the uncertain exchanges used, could lead to volatility. 

The challenge of tracking these movements on obscure exchanges further complicates efforts to gauge their impact accurately. As a result, the crypto market may face additional uncertainty as the liquidation process continues.

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