Mt. Gox moves $739 million in bitcoin, creditors still waiting

Defunct crypto exchange Mt. Gox moved a combined $739 million worth of bitcoin (BTC) to two addresses early Tuesday, according to Arkham Intelligence data. The exchange, which has been "defunct" for over a decade, continues to find ways to keep itself in headlines.

Mt. Gox transferred 10,306 BTC, worth roughly $730.8 million, from its cold wallets to the unmarked address "14FE…c9eq" at around 4:47 a.m. UTC on Tuesday. It also moved 116.3 BTC to its hot wallet at the same time, Arkham data shows.

Additionally, at around 6:46 a.m., Mt. Gox transferred another 116.3 BTC to the address "1A4x…QNj4," along with a small amount of bitcoin worth roughly $1.19 to a Bitstamp cold wallet. A gesture of goodwill, perhaps, or just a rounding error that survived the trip.

The Arkham page currently marks the transferred bitcoin as "unspent," and it remains unclear whether the funds would be used for future creditor repayments. Large bitcoin movements in the past have often preceded distributions to creditors, though "often" is doing a lot of heavy lifting in this particular saga.

Tuesday's transactions marked the entity's first bitcoin movement since late March, when it shifted a relatively small amount of bitcoin between its wallets. The silence is broken, and on-chain sleuths are once again employed.

Mt. Gox currently holds 34,504 BTC, valued at roughly $2.43 billion, across its wallets, per Arkham data. A not-insignificant war chest for an estate that technically owes people money.

The Tokyo-based exchange began repaying creditors in July 2024 through partner exchanges including Kraken and Bitstamp. However, the exchange's rehabilitation trustee last year extended the repayment deadline to October 2026, marking the third postponement since the original Oct. 31, 2023 deadline. Creditors have, by all accounts, developed a healthy relationship with the word "extended."

Mt. Gox was once the world's largest bitcoin exchange, handling around 70% of global bitcoin trades in 2013. It collapsed after losing around 850,000 BTC in a 2014 hack, leading the company to file for bankruptcy protection. The 850,000 BTC, at today's prices, would be a number that is best left uncalculated for everyone's mental wellbeing.

The article has been updated to include the second tranche of transactions that occurred at around 6:46 a.m. UTC. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.