With approximately 24,081 bitcoins sitting in wallets linked to the defunct exchange, Mt.Gox has started moving money again — and the timing couldn’t be more exquisite.
Deadline pressure mounts
The payment deadline for Mt.Gox creditors has now been set at October 31, 2026, the third postponement since the original October 31, 2023 deadline.
Court approval was required each time the date was postponed, and the trustee overseeing the case says some creditors have not yet received their money due to unresolved paperwork or procedural problems.
Most of the payments have already gone through. Principal repayments, early lump sum payments, and intermediate distributions to eligible creditors have been completed, with approximately 19,500 of them paid through platforms such as Kraken and Bitstamp As of late March 2025.
Source: Arkham
116 Bitcoin lands on Bitstamp
The latest movement includes 116.3 BTC, worth approximately $8.16 million, transferred directly to Bitstamp.
Data on the chain Arkham Intelligence confirms the transaction, which follows a much larger move earlier this week when 10,422.65 bitcoins worth about $739 million were transferred to a new wallet starting with the address prefix “14FEEM.”
The smaller tranche – 116.3 bitcoins – was later separated from that batch and sent to the exchange.
It remains unclear whether Bitstamp’s transfer is intended to convert funds into fiat currencies for creditor payments or distribute BTC directly to creditors through the platform, although both have been used in previous distributions.
Markets are responding sharply
Bitcoin fell to around $61,300 before recovering above $64,000, with some observers pointing to Mt.Gox transfers as a contributing factor.
The $739 million move earlier in the week rattled sentiment first. Subsequent Bitstamp deposits maintained the pressure, although much smaller.
Mount Gox He collapsed In 2014 after losing about 850,000 bitcoins in a security breach. The property allocated to recover creditors includes 142,000 Bitcoin, 143,000 Bitcoin Cash, and approximately 69 billion Japanese yen in cash.
There is still about $1.55 billion left to move
The remaining 24,081 bitcoins under Mt.Gox’s control are currently worth about $1.55 billion, and every on-chain movement linked to the property is subject to immediate scrutiny from traders watching for signs of further selling.
The October deadline gives the trustee approximately five months to finalize the pending distributions before the window closes again.
Featured image from Pexels, chart from TradingView
Editing process Bitcoinist focuses on providing well-researched, accurate, and unbiased content. We adhere to strict sourcing standards, and every page is carefully reviewed by our team of senior technology experts and experienced editors. This process ensures the integrity, relevance, and value of our content to our readers.
