Mt. Gox Repayment Shock: Massive $1.07 Billion Transfer Could Shake Bitcoin Prices!

Once the leading crypto exchange before its 2014 collapse, creditors are now getting ready for Mt. Gox repayment. A Mt. Gox-associated wallet has transferred 12,000 Bitcoin, valued at nearly $1 billion, to an unknown wallet. This transaction ranks among the biggest fund movements from the exchange recently. Mt. Gox-linked wallets still hold massive BTC reserves while creditors await repayment, as the exchange’s long-running bankruptcy case remains unresolved. 

Is Mt. Gox Preparing for Payouts? 12,000 BTC Moved

Mt. Gox, the crypto exchange that went bankrupt in 2014, has moved 12,000 Bitcoin worth nearly $1 billion. This massive amount has been moved to an unmarked wallet. The Mt. Gox’s wallet “1PuQB” sent 11834 BTC to the wallet “1Mo1…9gR9” at 3:17 UTC on Thursday. This transaction worth nearly $1.07 billion was reported by Arkham Intelligence in an X post. Just minutes after this transfer, 166.5 BTC was deposited in Mt. Gox cold wallet “1Jbez”. While this $15M transaction took place, the remaining 11834 Bitcoin was moved to an unidentified wallet, “1Mo1n”.

ARKHAM ALERT: MT GOX MOVING $1B $BTC pic.twitter.com/VpIkHdJQkl

— Arkham (@arkham) March 6, 2025

Based on Arkham data, in total, all Mt. Gox-connected entities have around 36080 BTC, which translates to almost $3.26B. This transaction comes as the only movement in Mt. Gox wallets for a month, with the last being 4 BTC. The last large-scale transaction happened in December when Mt. Gox shuffled  1,620 BTC in a number of unknown wallets. Not long before this movement, Mt. Gox also sent a massive amount of 24,000 BTC through some unmarked wallets. 

Mt. Gox’s Crypto Trail: A Look at Its Largest Transactions

The last biggest transfer reported from the Mt. Gox-related addresses was a $2.4 billion movement between two wallets. On Nov 11 last year when 30,000 BTC exited “1FG2C…Rveoy” and was deposited to “1Fhod…LFRT”. 1Fhod…LFRT” has been the biggest receiver of BTC among the Mt. Gox wallets. On the same date, $200 million worth of BTC was also transferred into a cold Mt. Gox wallet.

From Dominance to Disaster: The Unraveling of Mt. Gox

This Japan-based crypto exchange was launched in 2010 and became the biggest BTC exchange in 2013. As it gained popularity, more than 70% of all Bitcoin transactions were hosted by this exchange. But Mt. Gox’s success came to an abrupt end when, in 2014, it stopped all withdrawals and suspended all trading. The website then filed for bankruptcy protection and went offline

Mt. Gox’s bankruptcy was caused by the biggest exchange hacks of 2013. Mt. Gox lost 740,000 bitcoins, which translates to more than $15 billion at current prices. To this day, thousands of creditors are waiting for the return of their BTC. Mt. Gox announced in Oct last year that the new reimbursement deadline has been set to Oct 31, 2025. This marks a 12-month pushback from the last repayment deadline.

Can BTC Turbulent Week Gets Worse?

Such a big movement comes as the crypto market has experienced a high-volatility week. As in the weekend, the value of most coins soared as Trump announced the American cryptocurrency. However, the prices plunged again after the American tariffs took effect on March 4. BTC went from hitting a high of $94,810 on March 3 to a low of $81,947 on March 4. According to Coinmarketcap’s data, BTC has now recovered and is trading around $91,717. If the massive amount of BTC in the Mt. Gox case gets released, we could see more volatility.

Mt. Gox Bitcoin Transfer: Will This Impact BTC Prices?

The recent large-scale Bitcoin transfer has sparked renewed conversations about Mt. Gox’s bankruptcy case and creditor repayments. This movement suggests repayment preparations might be underway. Additionally, crypto market volatility means a massive Bitcoin release could impact prices significantly. As Mt. Gox repayment starts by October 2025, market turbulence could follow, especially if many Bitcoins are sold.