Defunct bitcoin exchange Mt. Gox moved 10,422.65 BTC worth roughly $739 million to a new wallet on Tuesday, marking its largest single transfer in months and its biggest move yet ahead of the October 31, 2026 creditor repayment deadline.
How the transaction broke down
The transfer was recorded in Bitcoin block 952,072 at 04:47 UTC, according to Arkham Intelligence data.
Of the total, 10,306.35 BTC ($730.78 million) went to a previously unseen address starting with 14FEEM, while a smaller 116.30 BTC ($8.25 million) slice was routed to Mt. Gox’s known hot wallet at 1Jbez.
The split pattern mirrors earlier administrative transfers that preceded creditor distributions, though none of the coins has yet been forwarded to a custody provider or exchange.
What Mt. Gox still holds
Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved holding tied to any failed crypto exchange.
Repayments officially began in mid-2024, and around 19,500 creditors have received funds so far.
However, trustee Nobuaki Kobayashi has pushed back the final deadline twice, with a Tokyo court approving the most recent extension in October 2025, moving the cutoff from October 31, 2025 to October 31, 2026, citing incomplete creditor procedures and pending processing issues.
Why markets are watching closely
The movement comes during a sharp bitcoin slide that has taken BTC below $71,000 for the first time in weeks, with spot ETF outflows running for a record 10 consecutive sessions and Strategy’s first publicized bitcoin sale adding to the pressure.
Mt. Gox creditor coins were largely acquired before the 2014 collapse, meaning any distribution would meet sellers ready to realize substantial gains at current bitcoin prices, potentially adding further selling pressure to an already strained market.
