Mt. Gox Transfers $953 Million BTC Amid Creditor Repayment Delay

Mt. Gox transferred 10,608 BTC, valued at approximately $953 million, on Nov. 18. This marks the first notable movement from the defunct exchange since March 2025, coinciding with Bitcoin's brief dip below $90,000.

The transaction was divided into two parts: 10,422.64 BTC went to an unmarked address, and 185.52 BTC was routed through a hot wallet to a Kraken-linked address.
This transfer occurred three weeks after Mt. Gox extended the creditor repayment deadline to October 31, 2026, due to incomplete creditor procedures.

Under the rehabilitation plan, creditors can opt for Bitcoin, Bitcoin Cash, or fiat payments in Japanese yen. The trustee may need to liquidate holdings for fiat requests. Mt. Gox holds around 34,689 BTC, valued at $3.14 billion.

Market Response

Social media analyst Ted suggested the transfer might be routine wallet reshuffling rather than preparation for sales.
Transfers to exchanges do not necessarily indicate immediate sales.

Since July 2024, Mt. Gox has distributed approximately 107,311 BTC. Over 19,500 creditors have received Bitcoin and Bitcoin Cash payments through March 2025. Exchanges like Kraken and Bitstamp are involved as repayment partners.