Here’s what happened in crypto today

Today in crypto, Mt. Gox makes its second Bitcoin move in a week, cyberattackers target Elon Musk’s X, and crypto exchange-traded products (ETPs) saw their fourth straight week of outflows, with $876 million lost.

Mt. Gox makes second Bitcoin move in a week as it taps $76K

Defunct crypto exchange Mt. Gox moved 11,833 Bitcoin BTCUSD, worth $926.2 million, on March 11 — its second big BTC transfer in a week amid the cryptocurrency’s price falling to a four-month low of around $76,700.

Arkham Intelligence data analyzed by Lookonchain found that 11,501 BTC was sent to a new wallet. The remaining 332 BTC were transferred to a warm wallet, which analytics firm Spot On Chain said could be moved to assist with the repayments.

Mt. Gox moved 12,000 Bitcoin worth a little over $1 billion on March 6. The exchange fell into bankruptcy in early 2014 and similar moves it has made in the past have been a precursor to it paying out its creditors.

Bitcoin has struggled to maintain a rally amid a wider market rout that has seen investors flee risky assets like crypto. The sinking US markets saw JPMorgan economists bump the risk of a recession this year to 40%, up from 30% at the beginning of 2025.

‘Dark Storm’ hacking group says they attacked X

The hacker group “Dark Storm” has taken credit for what Elon Musk called a “massive cyberattack” against his social media platform X that prevented some users from accessing the site.

Cybersecurity group SpyoSecure said Dark Storm’s leader posted to Telegram to take credit for the attack, with a post saying the group “took Twitter offline,” alongside a screenshot of failed connection attempts from various global locations.

Musk posted to the platform saying it gets “attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved.”

There were more than 33,000 reports of X outages on March 10, according to Downdetector.

Musk confirmed the cyberattack in response to a social media user who detailed a series of actions against his interests, from protests against the Department of Government Efficiency (DOGE) to vandalism of Tesla stores.

As NBC News reported, there have been at least 10 acts of vandalism against Tesla stores and vehicles, likely in response to the billionaire entrepreneur’s involvement in the Trump White House.

Crypto ETPs see fourth straight week of outflows, totaling $876 million

After posting record weekly outflows of $2.9 billion last week, crypto ETPs continued their downward trend, bringing the four-week total outflows to $4.75 billion, CoinShares reported on March 10.

While the pace of outflows slowed, investor sentiment remained bearish, according to James Butterfill, head of research at CoinShares.

The analyst also suggested that the market has shown signs of capitulation.

Bitcoin (BTC) ETPs were the primary driver of outflows, accounting for $756 million, or 85% of last week’s total. Short-Bitcoin ETPs also saw outflows of $19.8 million, the most since December 2024. 

With cumulative outflows reaching $4.75 billion over the past four weeks, the year-to-date inflows dropped to $2.6 billion.

Total assets under management (AUM) declined by $39 billion to $142 billion, the lowest point since mid-November 2024, driven by both negative price movements and sustained outflows, Butterfill noted.

This bearish sentiment was also observed among a wide range of altcoins last week, with Ether (ETH) ETPs seeing $89 million of outflows.

Tron (TRX) and Aave (AAVE) were also among the most notable ETP losers, seeing $32 million and $2.4 million in outflows, respectively, according to the report.