Defunct crypto exchange Mt. Gox has executed another major Bitcoin transfer — its third significant movement in March — sparking renewed speculation about upcoming creditor repayments.
11,501 Bitcoin Transferred on March 25
On March 25, Mt. Gox moved a total of 11,501 BTC, valued at over $1 billion. Blockchain analytics firm Arkham Intelligence reported the transfer on X, noting that:
- 893 BTC (approximately $78 million) was sent to the Mt. Gox cold wallet (1Jbez)
- 10,608 BTC (around $929 million) was transferred to a change wallet (1DcoA)
This follows earlier transactions of 12,000 BTC on March 6 and 11,833 BTC on March 11, also worth more than $1 billion each at the time of transfer.
Spot On Chain, another blockchain analytics platform, noted that some of the previously moved Bitcoin was later deposited to the crypto exchange Bitstamp. The platform also speculated that the 893 BTC moved to the warm wallet might be transferred out soon.
Remaining Bitcoin Holdings and Repayment Outlook
Arkham data indicates Mt. Gox still controls approximately 35,000 BTC, worth around $3.1 billion, across various wallets. These movements have intensified speculation that creditor repayments may be imminent.
Following a July 2024 Reddit poll conducted after Mt. Gox’s initial payouts, most creditors appeared unwilling to sell their Bitcoin immediately, suggesting they remain long-term holders despite the wait.
Background: One of Crypto’s Largest Collapses
Mt. Gox filed for bankruptcy in 2014 after hackers stole 850,000 BTC, triggering one of the largest crypto exchange failures in history. Before its collapse, the Tokyo-based platform handled nearly 70-80% of global Bitcoin trading volume.
A Tokyo court appointed a trustee to manage Mt. Gox’s bankruptcy and distribute the remaining assets to creditors. However, repayment efforts have faced repeated delays. In October 2023, the trustee extended the repayment deadline by another year, pushing it to October 31, 2025, due to incomplete creditor documentation.
Adding to the activity, Mt. Gox moved over 24,000 BTC — worth nearly $2.5 billion — in December 2024, after Bitcoin briefly surged past $100,000.
As Bitcoin continues to show strength in the market, all eyes are on Mt. Gox for further signs of payout progress and wallet movements.
