Mt. Gox shifts $739 million in bitcoin to new wallet before deadline

Defunct bitcoin exchange Mt. Gox moved 10,422.65 BTC worth $739 million from cold storage to a freshly generated address on Tuesday, its largest single transfer in months ahead of an Oct. 31 repayment deadline.

The transaction, recorded on Bitcoin block 952,072 at 04:47 UTC, sent 10,306.35 BTC ($730.78 million) to a previously unseen address beginning with 14FEEM, while a smaller 116.30 BTC ($8.25 million) slice was routed to Mt. Gox's known hot wallet at 1Jbez, according to Arkham Intelligence data.

"The split pattern mirrors earlier administrative transfers that preceded creditor distributions, though none of the coins has yet been forwarded to a custody provider or exchange," Arkham's on-chain data shows.

Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved holding tied to any failed crypto exchange. Repayments officially began in mid-2024, and around 19,500 creditors have received funds. Trustee Nobuaki Kobayashi has pushed back the final deadline twice, with the most recent extension — approved by a Tokyo court in October 2025 — moving the cutoff from Oct. 31, 2025 to Oct. 31, 2026, citing incomplete creditor procedures and pending processing issues.

The transfer comes as bitcoin slides below $71,000 for the first time in weeks, with Strategy's first publicized bitcoin sale of 32 BTC for $2.5 million, a record 10-session spot ETF outflow streak, and stalled U.S.-Iran ceasefire talks all weighing on the market. Mt. Gox creditor coins were largely acquired before the 2014 collapse at roughly $500 per BTC, meaning any distribution would meet sellers ready to realize substantial gains at current prices near $70,200.

This article is for informational purposes only and does not constitute investment advice.