Mt. Gox Transfers $956 Million In Bitcoin

Bitcoin held by the defunct Mt. Gox exchange was transferred Monday, according to blockchain analytics firm Arkham Intelligence. The exchange moved approximately 10,608 BTC, valued at roughly $956 million, to an unidentified address and returned 185.5 BTC to its hot wallet.

The transfer occurred around 11:40 p.m. ET. Historically, significant BTC movements by Mt. Gox have often preceded repayments to creditors who lost funds during the exchange’s 2014 collapse.

While the reason for Monday’s transfers remains unclear, the timing coincides with a recent downturn in the Bitcoin market. Bitcoin’s price dipped below $90,000 early Tuesday, erasing its 2025 gains and reversing from a recent peak.

Market speculation suggests the transfers may reignite fears of selling pressure amidst an ongoing market correction.

Mt. Gox filed for bankruptcy in February 2014 following a massive Bitcoin hack. A trustee was appointed to handle bankruptcy proceedings and repay creditors using the exchange’s assets.

Repayments began in July 2024, using holdings of 142,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese yen. However, the trustee has postponed repayment deadlines multiple times.

The latest deadline for creditor repayment is now set for October 2026, marking a third delay from the original October 2023 deadline. The postponement was attributed to creditors not completing necessary procedures.

Mt. Gox currently holds approximately 34,689 BTC, valued at roughly $3.1 billion, across various wallets, according to Arkham. Bitcoin’s price is currently around $91,268, down 4.8% in the last 24 hours.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.