Mt. Gox moves over 10,600 Bitcoins as payment uncertainty persists

Late Monday night, the collapsed Mt. Gox transferred 10,608 Bitcoins (equivalent to about $956 million) to a non-privileged wallet address, according to data from Arkham Intelligence.

Approximately 10,422 Bitcoins were transferred to the new address “1ANkD…ojwyt”, while 185.5 Bitcoins were transferred to one of the platform’s active wallets.

Historically, large transfers from Mt. Gox have typically been repaid ahead of creditors who suffered losses following the platform’s collapse, but there is currently no evidence that Monday’s transfers are related to a new round of distributions.

Founded in Tokyo in 2010, the platform managed about 70% of the world’s bitcoin transactions at its peak before a 2014 hack, which resulted in the loss of 850,000 bitcoins and prompted it to file for bankruptcy protection.

In July 2024, the platform began repaying debt with assets including 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion yen.

On October 27, the Reorganization Trustee announced that it would postpone the payment deadline to October 2026, the third postponement since the original date of October 2023, although some creditors received payments through Kraken and Bitstamp.

The platform still holds approximately 34,689 Bitcoins, worth approximately $3.1 billion.

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