Massive Mt. Gox BTC Move Sparks Questions Over Creditor Payouts

Mt. Gox moved nearly $1 billion worth of Bitcoin in its first major transaction in eight months, renewing speculation about upcoming creditor repayments amid an extended rehabilitation timeline.

Major Bitcoin Transfer Ends Months of Inactivity

On Monday, Mt. Gox, the long-defunct Tokyo-based crypto exchange, executed a major on-chain transaction after eight months of complete silence, moving approximately $936 million in Bitcoin. The activity marks the first significant wallet movement since March and immediately drew market attention due to the exchange’s ongoing creditor repayment process.

Blockchain data shows that at around 11:40 p.m. ET, Mt. Gox transferred Bitcoin to two separate destinations. Approximately 10,422 BTC was moved to an unknown wallet identified as “1ANkD…ojwyt,” while another 185.5 BTC was routed back into the exchange’s own hot wallet. The large-scale transaction represents one of the most notable movements from the exchange in years.

Rehabilitation Process Remains Ongoing

Mt. Gox’s latest activity comes as its court-supervised rehabilitation continues to unfold. The exchange collapsed in 2014 following a massive hack that resulted in the loss of around 850,000 BTC, forcing the once-dominant platform, which handled up to 70% of global bitcoin trading in 2013, to file for bankruptcy.

The process of compensating creditors has stretched across multiple years of litigation and technical preparation. A series of repayment phases began in 2024, with the trustee initiating distributions from a pool comprising 142,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese yen. Some early payments have already been processed through platforms such as Kraken and Bitstamp.

However, the timeline has consistently shifted. On October 27, the rehabilitation trustee announced that the final deadline for repayments would be extended once again — this time to October 2026, marking the third postponement from the original October 2023 target.

Signals Surrounding Repayment Activity

Historically, large Mt. Gox wallet movements have preceded creditor payouts, though it remains unclear whether Monday’s transfer forms part of an upcoming distribution. The exchange has not issued any public clarification regarding whether additional repayments are imminent.

According to Arkham Intelligence, Mt. Gox still controls 34,689 BTC, valued at roughly $3.1 billion, across its remaining wallets. The While creditors have waited more than a decade for compensation, this sudden shift of funds indicates active management of these holdings by the trustee, reinforcing expectations that preparations continue behind the scenes.

Market Impact and Broader Implications

Large dormant Bitcoin movements often raise concerns among market participants due to potential selling pressure. In this case, several factors appear to limit the likelihood of immediate market disruption.

The transfer of more than $900 million into what appears to be cold storage aligns with long-term asset handling rather than imminent sell-offs. Additionally, the extended repayment timeline means forced distribution–related selling is unlikely in the near term. The current maturity of Bitcoin markets also provides greater capacity to absorb large transactions than during earlier Mt. Gox-related movements.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice