Mt. Gox Transfers 10,422 Bitcoin Worth $739 Million Ahead of 2026 Repayment Deadline
Updated
Updated · CoinDesk · Jun 2
Mt. Gox Transfers 10,422 Bitcoin Worth $739 Million Ahead of 2026 Repayment Deadline
1 articles · Updated · CoinDesk · Jun 2
10,422.65 BTC worth about $739 million moved from Mt. Gox cold storage at 04:47 UTC, the defunct exchange’s largest transfer in months before its Oct. 31, 2026 creditor repayment deadline.
10,306.35 BTC went to a newly created wallet and 116.30 BTC to Mt. Gox’s hot wallet, a split that matches earlier administrative reshuffling tied to distributions, though none has reached a custodian or exchange yet.
34,504 BTC worth roughly $2.43 billion still remain under Mt. Gox control, leaving a large overhang as eventual payouts to about 19,500 creditors could add selling pressure.
Bitcoin has already slipped below $71,000 amid an 11-session U.S. spot ETF outflow streak, Strategy’s first disclosed bitcoin sale and stalled U.S.-Iran ceasefire talks, making any Mt. Gox-related supply especially sensitive.
Can the crypto market finally absorb its oldest ghost, or will the Mt. Gox payout prove the system is still too fragile?
After a 12-year wait, will Mt. Gox creditors instantly sell their Bitcoin, or has the long hold turned them into believers?
Mt. Gox’s 10,422 BTC Transfer and the Extended $3 Billion Repayment Saga: Market Reactions and Industry Lessons
Overview
On November 18, 2025, Mt. Gox, the exchange that collapsed in 2014 after losing 850,000 BTC in a security breach, transferred 10,422 Bitcoin from cold wallets to hot wallets. This move was done in small amounts to prepare for future payments to creditors while keeping the remaining 34,000 BTC secure. The market reacted with apprehension, but the methodical approach aimed to avoid disruption and ensure a safe, planned repayment process. This event highlights Mt. Gox’s ongoing efforts to resolve its long-standing obligations and restore trust after its historic collapse.