With approximately 24,081 bitcoins still remaining in wallets tied to the defunct exchange, Mt. Gox began moving funds again, at which point no further charges could be made.
deadline pressure mount
Mt. Gox creditors’ repayment deadline is now set at October 31, 2026, the third delay since the original deadline of October 31, 2023.
Each postponement required court approval, and the trustee overseeing the case said some creditors had not yet received their funds because paperwork or procedural issues had not been resolved.
Most payments have already been made. Basic repayment, early lump sum payment, and interim distribution have been completed for eligible creditors, and as of the end of March 2025, approximately 19,500 cases have been repaid through platforms such as Kraken and Bitstamp.
Source: Arkham
116 BTC landed on Bitstamp.
The latest move saw 116.3 BTC worth approximately $8.16 million sent directly to Bitstamp.
On-chain data from Arkham Intelligence confirms the transaction saw an even bigger move earlier this week, when 10,422.65 BTC worth about $739 million was moved to a new wallet starting with the address prefix “14FEEM”.
A smaller tranche (116.3 BTC) was later separated from that batch and sent to the exchange.
It is unclear whether the Bitstamp transfer was intended to convert funds to fiat to pay creditors or to distribute BTC directly to creditors through the platform, but both have been used in previous distributions.
The market reacts sharply
Bitcoin fell to around $61,300 before recovering above $64,000, with some observers pointing to the Mt. Gox transfer as a contributing factor.
The $739 million move earlier this week first shook sentiment. Subsequent Bitstamp deposits, although much smaller, continued to apply pressure.
Mt. Gox collapsed in 2014 after losing approximately 850,000 BTC due to a security breach. Assets set aside for creditor recovery include 142,000 Bitcoin, 143,000 Bitcoin Cash, and approximately 69 billion yen in cash.
The move still costs about $1.55 billion.
Mt. The remaining 24,081 BTC controlled by Gox are currently worth approximately $1.55 billion, and any on-chain movement involving this asset is subject to immediate scrutiny by traders looking for signs of further selling.
The October deadline gives trustees about five months to finalize outstanding distributions before the window closes again.
Featured image from Pexels, chart from TradingView
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