Defunct cryptocurrency exchange Mt. Gox has once again stirred the crypto world by moving over $1 billion worth of Bitcoin across multiple wallets, marking its third major on-chain transaction in just four weeks.

Early Tuesday, Mt. Gox transferred 893 BTC (valued at approximately $78.11 million) to its hot wallet labeled 1Jbez, while simultaneously moving a staggering 10,608 BTC (worth about $927.48 million) to a change wallet identified as 1DcoA, according to data from on-chain tracking platform Arkham Intelligence. These transfers occurred during Asian trading hours as Bitcoin traded above the $87,000 mark.

This latest movement follows two other significant transfers by the exchange in March – exceeding $900 million on March 11 and over $1 billion on March 6. Despite the massive scale of these transfers, the crypto market has remained remarkably stable, showing none of the volatility that similar movements triggered in mid-2023.

Market stability can likely be attributed to Mt. Gox’s announcement last October extending its creditor payout deadline to October 31, 2025. This year-long extension, implemented to accommodate ongoing verification and processing requirements for claimants, has seemingly calmed fears of immediate large-scale liquidations that previously rattled investors.

The Japanese exchange, once the world’s largest Bitcoin trading platform before its collapse in 2014, continues to hold significant cryptocurrency assets that will eventually be distributed to creditors as part of its bankruptcy proceedings.