TL;DR
- Mt. Gox has transferred 32,371 Bitcoin, equivalent to approximately $2.19 billion, to unidentified wallets.
- Of the 32,371 Bitcoin, 30,371 were sent to a specific address, while the remaining 2,000 were first moved to a cold wallet before being directed to another unmarked address.
- The repayment process has been complicated, and after a one-year delay, the new delivery date has been set for October 31, 2025.
Mt. Gox, the cryptocurrency exchange that collapsed following a hack in 2014, has executed a transfer of 32,371 Bitcoin, equivalent to approximately $2.19 billion, to two unidentified wallets.
The platform is making progress in its attempts to reimburse creditors who have been waiting for the return of their funds since the exchange’s bankruptcy. According to data provided by blockchain analytics firm Arkham Intelligence, of this sum, 30,371 Bitcoin were sent to a specific address, while the remaining 2,000 Bitcoin were initially transferred to a cold wallet before being directed to another unmarked address.
The transfer took place just a few days after Mt. Gox moved 500 Bitcoin, valued at over $35 million, marking one of the largest movements the platform has made in months. In previous years, the exchange had already made significant transfers of Bitcoin, including over $9 billion in May and $2.8 billion in July. This suggests that the recent movements could be related to preparations for reimbursing creditors who lost their funds due to the security breach that led to the platform’s insolvency.
Mt. Gox Delays Payments to Creditors
However, the repayment process has been complicated. In October, Mt. Gox announced an extension of its repayment deadline, which has now been pushed back to October 31, 2025. The reason for this extension is that several creditors have not completed the required steps for repayment, along with other issues that have arisen during this process. This new date represents a one-year delay from the original set date.
Since the platform’s collapse, thousands of creditors have been waiting for their Bitcoin, a process that has unfolded slowly over the past few months. The story of Mt. Gox, which was once the largest Bitcoin exchange in the world, has been marked by its fall and the ongoing struggle to regain user trust and restore access to their funds
