Mt. Gox Moves $953m Bitcoin After 8 Months, Sparking Market Worries

Mt. Gox just moved 10,608 BTC worth $953 million, its first big transfer in months, as $4 billion in creditor repayments stay delayed until October 2026.

Defunct Japanese cryptocurrency exchange Mt. Gox has made its largest Bitcoin move in eight months, even as it pushes back creditor repayments until late 2026.

The Mt. Gox-labelled cold wallet transferred 10,608 Bitcoin (BTC) worth over $953 million into a new cryptocurrency wallet, marking its first large-scale transfer in eight months.

The transfer was also the first movement above $1 million from the address since March 25, when 893 BTC worth $77.3 million were moved, according to Arkham.

Mt. Gox still holds 34,689 Bitcoin worth about $3.14 billion at the time of writing.

Related: Corporate buying stirs debate over Bitcoin’s long-term decentralization

The transfer came as a surprise for the crypto community, as the defunct crypto exchange delayed its repayments by another year, until Oct. 31, 2026, citing incomplete creditor procedures.

“As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline,” wrote Mt. Gox in an Oct. 27 announcement.

The delay means around $4 billion in Bitcoin will be kept off the market for another year, reducing the risk of a sudden sell-off by Mt. Gox’s defunct creditors.

Mt. Gox’s repayments have a diminishing impact on Bitcoin price, as new institutional entrants, including Bitcoin treasury firms and US spot Bitcoin exchange-traded funds (ETFs), have been absorbing the newly released supply.

Source: CoinTelegraph