Mt. Gox transfers $956 million in BTC to an unknown address

One of the wallets, which received 10,422 BTC, remains unmarked, while the remaining 185.5 BTC were sent to Mt. Gox’s own hot wallet.

Such transfers have often preceded creditor repayment rounds, though it is unclear whether this latest movement is related to upcoming distributions. As of publication, both the purpose and recipient of the transfer remain unknown.

Founded in 2010, Mt. Gox once handled up to 70% of global crypto transactions. In early 2014, the exchange lost about 850,000 BTC in a hack and soon filed for bankruptcy. Creditors have been waiting for full reimbursement ever since.

In July 2024, the exchange began partial repayments from its reserves — totaling 142,000 BTC, 143,000 BCH, and 69 billion yen — though the process has faced repeated delays. On October 27, the court-appointed rehabilitation trustee extended the repayment deadline by another year, to October 2026 — the third postponement since the original October 2023 deadline.

Despite these repayments, Mt. Gox still holds significant reserves. According to Arkham Intelligence, its wallets contain 34,689 BTC, valued at roughly $3.1 billion. These holdings remain a major market factor, as any large-scale sale or distribution could trigger volatility.

Some creditors have received partial payments through exchanges such as Kraken and Bitstamp, but most continue to wait. Given the size of the remaining assets and the uncertainty around repayment timing, investors are closely monitoring all wallet activity linked to Mt. Gox.