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At 04:47 UTC, a transaction involving Bitcoin block 952,072 transferred coins from Mt. Gox's cold storage to a newly created wallet, including a smaller portion of 116 bitcoin directed to the exchange's hot wallet.
By Shaurya Malwa Jun 2, 2026, 6:15 a.m. 2 min readMake preferred onKey Points:
- The now-defunct exchange Mt. Gox relocated 10,422.65 bitcoin, valued at approximately $739 million, to new wallets on Tuesday, marking its largest transfer in several months ahead of the repayment deadline on October 31, 2026.
- This transaction involved sending the majority of the coins to an address that had not been used before, resembling previous administrative transfers related to creditor distributions; however, none of the bitcoin has been sent to a custodian or exchange yet.
- Currently, Mt. Gox retains about 34,504 bitcoin, which is worth around $2.43 billion, and any future distributions to the approximately 19,500 creditors—many of whom purchased before the exchange's 2014 collapse—could exert additional selling pressure on a market already facing challenges.
On June 2, 2026, at 04:47 UTC, Mt. Gox executed a transfer of 10,422.65 bitcoin, valued at around $739 million, to a new wallet, representing the largest transaction in months and the most significant action taken in anticipation of the October 31, 2026 deadline for creditor repayments.
The transaction, recorded in Bitcoin block 952,072, allocated 10,306.35 BTC (approximately $730.78 million) to a new address starting with 14FEEM, while a smaller portion of 116.30 BTC (about $8.25 million) was directed to Mt. Gox's known hot wallet at 1Jbez, according to data from Arkham Intelligence.
This split transfer pattern mirrors earlier administrative moves that preceded distributions to creditors, although none of the coins have been transferred to a custody provider or exchange as of now.
Mt. Gox continues to hold roughly 34,504 BTC, valued at $2.43 billion, representing the largest unresolved assets linked to any failed cryptocurrency exchange.
Repayment processes officially commenced in mid-2024, with about 19,500 creditors having received payments; however, trustee Nobuaki Kobayashi has postponed the final deadline twice. The latest extension, sanctioned by a Tokyo court in October 2025, pushed the deadline from October 31, 2025, to October 31, 2026, due to incomplete creditor procedures and outstanding processing issues.
This movement coincides with a notable decline in bitcoin prices, which have dipped below $71,000 for the first time in several weeks, influenced by Strategy's initial publicized bitcoin sale, a record streak of 10 sessions of outflows from spot ETFs, and stalled ceasefire discussions between the U.S. and Iran, all contributing to market pressures.
Since most creditor coins were acquired prior to the 2014 collapse, any distributions would likely meet sellers ready to realize considerable profits at current valuations.
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