Mt. Gox Moves $936 Million in Bitcoin After Eight Months
Mt. Gox, the defunct Bitcoin exchange, transferred $936 million worth of Bitcoin (10,423 BTC) to a new wallet. This is its first major activity in eight months. The move signals preparation for upcoming creditor repayments. The market reacted with increased volatility as Bitcoin’s price dropped below $90,000, its lowest since April. Selling by long-term holders and ETF outflows added to the pressure.
Repayment Deadline Extended to October 2026
The trustee managing Mt. Gox’s rehabilitation, Nobuaki Kobayashi, extended the repayment deadline to October 31, 2026. This is the third delay due to ongoing technical issues and incomplete creditor verifications. Kobayashi confirmed that some repayment stages are largely complete. Still, thousands of creditors remain unpaid because of unresolved problems and delays from partner exchanges.
Background and Market Impact
Mt. Gox once handled nearly 70% of global Bitcoin trading before losing approximately 850,000 BTC in a 2014 hack. The collapse froze withdrawals and led to bankruptcy. Since then, about 142,000 BTC, 143,000 BCH, and ¥69 billion in cash were recovered for creditors. Repayments started in 2024 through exchanges like Kraken and Bitstamp, reaching nearly 19,500 creditors by March 2025.
Mt. Gox still holds around 34,689 BTC, worth about $3.12 billion. The remaining assets are planned for future distributions after resolving pending cases.
Movements of Mt. Gox’s funds often cause market uncertainty. Recent Bitcoin price pressure combined with the transfer has increased investor concerns. Thousands of creditors continue to await repayment as the process extends into 2026.
