Mt. Gox Transfers 10,422 Bitcoin Worth $739 Million to New Wallet as Deadline Approaches

Mt. Gox has transferred 10,422.65 bitcoin, valued at approximately $739 million, to a new wallet, marking a significant move as the October 31, 2026 repayment deadline approaches. This transaction, executed on June 2, 2026, at 04:47 UTC, is the largest by the defunct exchange in several months.

The transfer was recorded in Bitcoin block 952,072, directing 10,306.35 BTC to a newly created address while 116.30 BTC was sent to the exchange's hot wallet. This allocation pattern resembles previous administrative transfers related to creditor distributions, although none of the bitcoin has yet been sent to a custodian or exchange.

Currently, Mt. Gox holds around 34,504 BTC, valued at approximately $2.43 billion, representing the largest unresolved assets from any failed cryptocurrency exchange. The repayment process for around 19,500 creditors began in mid-2024, but the final deadline has been postponed twice by trustee Nobuaki Kobayashi due to incomplete procedures.

This significant transfer coincides with a downturn in bitcoin prices, which have fallen below $71,000, influenced by various market pressures, including a record outflow from spot bitcoin ETFs and geopolitical tensions. Analysts suggest that any future distributions to creditors may increase selling pressure as many hold coins acquired before the 2014 collapse, making them poised to realize substantial profits.