Mt. Gox Moves $930M in Bitcoin as Repayments Near Deadline

Mt. Gox has moved 11,833 Bitcoin (BTC), worth approximately $930 million, for the second time in a week.

The bankrupt cryptocurrency exchange Mt. Gox has moved 11,833 Bitcoin (BTC), valued at approximately $930 million, for the second time this week.

The exchange is making preparations to repay creditors by the October 31, 2025 deadline.

According to Lookonchain, which cited data from Arkham Intelligence, Mt. Gox sent 11,501 BTC to a new wallet and 332 BTC to a warm wallet, possibly for creditor repayments.

This marks the second major transfer in a week, following the March 6 movement of 12,000 BTC, valued at over $1 billion. A portion of the funds was sent to BitGo for custodian services related to creditor claims.

Bitcoin price dipped 2.4% to $76,784 in 30 minutes after the latest Mt. Gox transfer. It reached its lowest point since November 2024, coinciding with the US election rally.

However, Bitcoin later recovered to $79,275.

Some analysts are still advising caution. Arthur Hayes, CIO of Maelstrom, urged patience in an X post on March 11, suggesting that Bitcoin might bottom out at $70,000 before embarking on a rally.

According to Spot On Chain, Mt. Gox's Bitcoin reserves have dwindled further as the exchange prepares for repayment. As of press time, Mt. Gox now holds 24,411 BTC, valued at $1.94 billion, down from $9.2 billion in June 2024.

Creditors are set to receive funds by October 31, 2025, marking a significant milestone in the long-running saga of the cryptocurrency exchange's collapse.

The exchange, which was once the largest Bitcoin exchange handling 70-80% of BTC trades, is planning to distribute the remaining Bitcoin to creditors following its infamous 2014 hack, where it lost 850,000 BTC.