Mt. Gox Moves $1 Billion in Bitcoin Ahead of Creditor Payouts by October 2025

The defunct crypto exchange Mt. Gox has made another significant move in its repayment process. On March 11, 2025, the exchange transferred 11,833 Bitcoin (BTC) valued at over $930 million. This follows a similar transfer made just days earlier, signaling the growing urgency behind Mt. Gox’s efforts to repay its creditors.

According to blockchain analytics firm Lookonchain, most of the transferred Bitcoin—11,501 BTC—was moved to a new wallet. The remaining 332 BTC were sent to a warm wallet, likely to facilitate upcoming repayment transactions.

Market Reaction and Bitcoin Price Movement

The timing of this huge transfer was followed by a discernible market response. The price of Bitcoin decreased by 2.4%, reaching $76,784 in the 30-minute window around the transfer. The market soon stabilized, though, with Bitcoin recovering to approximately $79,275 shortly thereafter.

Market analysts such as Arthur Hayes, Chief Investment Officer at Maelstrom, have encouraged investors to stay calm. Hayes postulated that Bitcoin may still experience lows of around $70,000 because of continued market pressures but is hopeful for its long-term future.

Current Status of Mt. Gox’s Bitcoin Holdings

After this recent transfer, Mt. Gox’s overall holdings in Bitcoin stand at 24,411 BTC, worth around $1.94 billion. The exchange started selling off its Bitcoin holdings in June 2024 as part of its plan to repay creditors.

First, Mt. Gox had more than $9.2 billion in Bitcoin against creditor claims. The exchange has been selling these assets in small portions to pay off debts incurred by its failure.

The 2014 Hack and Its Long-Term Consequences

Mt. Gox’s collapse goes back to a massive hacking attack in 2014, in which about 850,000 BTC were lost. This prompted the exchange to bankruptcy and set off years of litigation and restructuring.

In an attempt to satisfy the outstanding creditor claims, Mt. Gox delayed its repayment in October 2024. The exchange is currently targeting completion of all the creditor payouts by October 31, 2025. This extension is geared toward offering clearer terms and more assurance to the waiting creditors for over a decade now.

Outlook and Future Implications

Mt. Gox’s recent sell-offs of Bitcoin are a key component of its overall strategy to pay out claims and shut down operations. Nevertheless, the market effect of these massive sell-offs is an issue, with further liquidation of Bitcoin reserves potentially putting pressure on prices lower.

As the October 2025 deadline looms, creditors and market watchers alike will be looking for further news. The successful fulfillment of this repayment plan might signal the last act in one of the most notorious sagas in the cryptocurrency space.