Mt. Gox transferred 10,422 BTC worth about $739 million on Tuesday, putting fresh attention on the exchange’s creditor repayment process. It was the first major wallet activity from Mt. Gox in more than two months.
Blockchain data from Arkham Intelligence shows that at around 4:47 a.m. UTC, Mt. Gox moved 10,306 BTC, valued at roughly $730.8 million, from one of its cold wallets to an unlabeled address. At the same time, the exchange sent another 116.3 BTC to its hot wallet. Several hours later, Mt. Gox transferred an additional 116.3 BTC to a separate address, and transaction records also showed a small bitcoin transfer to a Bitstamp cold wallet.
The transferred bitcoin has not moved again
Arkham currently labels the transferred coins as unspent, and the funds have not moved again, leaving the purpose of the transactions unclear. A short point. In previous cases, large transfers from Mt. Gox wallets often appeared before distributions to creditors, which is why market participants are watching the latest activity closely.
Tuesday’s transfers were the exchange’s first notable bitcoin movements since late March. During that period, Mt. Gox had only carried out smaller internal transfers involving much lower amounts, so the latest batch stands out by size alone.
Mt. Gox still holds 34,504 BTC
Even after the latest transfers, Arkham data shows Mt. Gox still controls 34,504 BTC across its wallets, worth about $2.43 billion at current prices. That leaves the estate with a sizable bitcoin reserve while the repayment process remains in progress.
Repayments have been underway since July 2024, when Mt. Gox began distributing assets through partner exchanges including Kraken and Bitstamp. Many creditors, though, are still waiting for the rest of their funds. Last year, the rehabilitation trustee pushed the repayment deadline to October 2026, the third extension since the original deadline of October 31, 2023.
A larger transfer brings timing back into focus
Mt. Gox once handled nearly 70% of global bitcoin trading volume and ranked among the industry’s most influential exchanges. The company collapsed after losing about 850,000 BTC in the 2014 hack. This new transfer is its biggest wallet activity in months, and while the destination and intended use of the funds remain unknown, the move has renewed scrutiny over the timing and structure of future creditor repayments.