Mt. Gox Shifts $930M in Bitcoin Ahead of Upcoming Creditor Payout

With the long-awaited creditor repayments set for October, wallets linked to the defunct Mt. Gox exchange have moved another massive sum of Bitcoin (BTC), fueling speculation about the next phase of distributions.

On Tuesday, a Mt. Gox-associated wallet transferred 11,834 BTC—valued at approximately $930 million—to new addresses, according to blockchain tracking platform Arkham Intelligence. Analysts noted that around $26 million was sent to an “operations wallet,” likely in preparation for creditor repayments, while the remainder was redirected to a “change wallet.”

This latest transaction follows last week’s internal transfer of $1 billion in BTC, as well as a $15 million deposit to BitGo, a crypto custody service facilitating the repayment process.

Mt. Gox, which collapsed in 2014 after a devastating hack, has been a lingering overhang on the Bitcoin market. In mid-2024, traders braced for downward pressure as the exchange’s trustee began redistributing billions of dollars worth of BTC. The repayment deadline was later pushed to October 31, 2025, temporarily easing fears of an imminent sell-off.

Despite the delay, the recent wallet activity suggests preparations for repayments are ramping up, potentially adding new selling pressure to Bitcoin’s already struggling market. BTC has fallen nearly 30% from its peak in January, and investors remain cautious about further downside risks.

Arkham Intelligence estimates that Mt. Gox-linked wallets still control roughly $2.9 billion in BTC, with further movements likely in the months ahead.