Mt. Gox Moves Over $1 Billion in BTC — Is Repayment on the Way?
Bankrupt crypto exchange Mt. Gox has made a large Bitcoin transfer. Notably, this is not the first such transaction this month and could be a sign of preparations for creditor payouts.
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The transfer involved 11,501 BTC, worth roughly $1.01 billion, and consisted of two major movements.
Data from Arkham Intelligence shows that most of the funds (10,608 BTC, valued at around $927.5 million) were sent to an unidentified address, while a smaller portion (893 BTC (approximately $78 million) was moved to an exchange hot wallet.
In fact, earlier transfers by Mt. Gox on March 6 and March 11, 2025, also exceeded $1 billion.
Historical data suggests that these transactions may be linked to the ongoing repayment process for Mt. Gox creditors. Since repayments can be made in BTC, this raises the possibility of increased selling pressure on the market.
Nevertheless, despite the transfer activity, Bitcoin’s price has remained stable, prompting cautious optimism among market participants.
Related: Bitcoin Fails to Hold Above $88,000 — What Went Wrong?
The Mt. Gox Story and Next Steps
Launched in 2010, Mt. Gox once handled up to 70% of all global Bitcoin transactions. However, a major hack in early 2014 led to the loss of around 850,000 BTC and forced the company to file for bankruptcy.
Related: The Story of Bankrupt Mt. Gox: Is the Repayment Day Near?
According to Arkham Intelligence, as of the time of writing, the exchange still holds approximately 35,583 BTC, valued at around $3.09 billion. Creditor repayments began in July 2024, but the final deadline for distributions was extended to October 31, 2025, due to delays in claim verification.
As a result, Mt. Gox remains a focal point for the market. Yet, despite the scale of the latest transfer, there has been no significant impact on Bitcoin’s spot price so far.
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