Mt. Gox Moves Another $930M in Bitcoin as Creditor Payouts Approach
Wallets connected to the defunct Mt. Gox exchange still hold approximately $2.9 billion in assets, set to be distributed to creditors by October.
On Tuesday, Bitcoin (BTC) linked to Mt. Gox was once again on the move, following last week’s activity. The transfers suggest that creditor payouts—paused after a previous multi-billion-dollar distribution—may soon resume.
According to data from Arkham Intelligence, a wallet associated with Mt. Gox shifted 11,834 BTC, valued at roughly $930 million, into new addresses. Of that amount, approximately $26 million in BTC was sent to an “operations wallet,” potentially in preparation for disbursement to creditors, while the remaining funds were routed to a “change wallet,” Arkham analysts noted in an X post.
This latest transfer follows a recent $1 billion internal fund reshuffling and a $15 million BTC movement to BitGo, one of the crypto custodians facilitating repayments to Mt. Gox creditors.
Mt. Gox-related transfers had previously weighed on BTC prices throughout mid-2024, as market participants feared a wave of sell-offs once payouts began. However, in October, the trustee overseeing Mt. Gox’s remaining assets extended the repayment deadline to October 31, 2025, temporarily easing concerns over immediate selling pressure.
Still, the latest fund movements could signal that the remaining Bitcoin may soon be distributed to creditors. This has renewed worries of further sell-side pressure, particularly as the crypto market is already undergoing a correction, with BTC down nearly 30% from its record highs in January.
Arkham’s data confirms that Mt. Gox-linked wallets continue to hold $2.9 billion in BTC.
