The defunct bitcoin exchange Mt. Gox shifted 10,422.65 bitcoin worth roughly $739 million to a new wallet at 04:47 UTC on Tuesday, marking its largest single transfer in months and the biggest move ahead of the October 31, 2026 deadline to complete creditor repayments.
Details of the Largest Single Transfer
The transaction, recorded on Bitcoin block 952,072, sent 10,306.35 BTC ($730.78 million) to a previously unseen address starting with 14FEEM, while a smaller 116.30 BTC ($8.25 million) slice routed to Mt. Gox's known hot wallet at 1Jbez, per Arkham Intelligence. 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.
Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved holding tied to any failed crypto exchange.
Repayment Progress and Second Extension
Repayments officially began in mid-2024 and around 19,500 creditors have received funds, though trustee Nobuaki Kobayashi has pushed back the final deadline twice. The most recent extension, approved by a Tokyo court in October 2025, moved the deadline from October 31, 2025 to October 31, 2026, with the trustee citing incomplete creditor procedures and pending processing issues.
Market Pressure Intensifies
The movement comes during a sharp bitcoin slide that has taken BTC below $71,000 for the first time in weeks, with Strategy's first publicized bitcoin sale, 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, meaning any distribution would meet sellers ready to realize substantial gains at current prices.