Mt. Gox Moves $1B in Bitcoin—Is a Payout Finally Coming?

Mt. Gox, the bankrupt cryptocurrency exchange, has transferred 11,501 Bitcoin in its third major transaction this month. According to blockchain analytics firm Arkham Intelligence, the movement took place on March 25. The exchange sent 893 Bitcoin, worth around $78 million, to its cold wallet and 10,608 Bitcoin, worth approximately $929 million, to a different wallet identified as the Mt. Gox change wallet.

ARKHAM ALERT: MT GOX MOVING $1B $BTC

893 BTC were moved to Mt. Gox Hot Wallet [1Jbez] and 10608 BTC were moved to change wallet 1DcoA. pic.twitter.com/akr3hqSasD

— Arkham (@arkham) March 25, 2025

This transfer follows two earlier transactions in March. On March 6, Mt. Gox moved 12,000 Bitcoin worth over $1 billion. Another 11,833 Bitcoin were transferred on March 11. These frequent movements have led to speculation about potential creditor payouts.

Speculation Around Creditor Repayments

With these repeated transfers, many are questioning whether Mt. Gox is preparing to repay its creditors. Blockchain analytics platform Spot On Chain noted that one of the earlier transactions ended up in the crypto exchange Bitstamp. The firm also suggested that the 893 Bitcoin moved to the warm wallet “will be moved out shortly too.”

[ATTENTION] Mt. Gox just moved 11,501.4 $BTC ($1B) again!

This includes 10,608 $BTC ($929.7M) sent to a new wallet and 893.4 $BTC ($78.3M) to a warm wallet.

Notably, after Mt. Gox’s previous transfer, 332 $BTC ($25.5M) was deposited into #Bitstamp. It is likely the 893.4 $BTC… https://t.co/8HryhiHSoT pic.twitter.com/NBQtcWSREJ

— Spot On Chain (@spotonchain) March 25, 2025

Mt. Gox creditors have been waiting for payouts since the exchange’s collapse in 2014. Last July, the platform began partial repayments. Creditors had the option to receive their funds in Bitcoin. A Reddit poll from that time indicated that many creditors were not rushing to sell their Bitcoin once received.

Despite these movements, the full repayment deadline remains set for October 31, 2025. This extension was announced in October 2024, with the trustee stating that many creditors had yet to complete the required procedures to receive their funds.

Mt. Gox Still Holds 35,000 Bitcoin

Arkham Intelligence information indicates that Mt. Gox continues to possess roughly 35,000 Bitcoin, which is worth about $3.1 billion. The exchange first possessed 142,000 Bitcoin for repayment, along with 143,000 Bitcoin Cash and 69 billion yen. Certain creditors have begun receiving payments via platforms such as Kraken and Bitstamp.

Although large amounts of Bitcoin have been moved, the latest transfers have not affected the market price. Earlier transactions in mid-2023 caused price fluctuations due to concerns over potential creditor sell-offs. However, recent transactions in March have not had the same effect on Bitcoin’s value.

Ongoing Repayment Process

Mt. Gox filed for bankruptcy in 2014 after losing 850,000 Bitcoin in one of the largest crypto hacks. The platform maintained control over 70–80% of Bitcoin transactions throughout the world until it went out of business. To handle distribution of remaining assets and payment disbursements the Japanese court designated a trustee to oversee the matter.

Despite multiple transfers in recent months, the full repayment process remains ongoing. While some creditors have received partial funds, many are still awaiting final settlements. The latest transfers have raised questions, but no official confirmation has been made regarding an immediate payout.