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Mt. Gox Moves $739 Million in Bitcoin as October Deadline Closes In

By Isaac • June 3, 2026 2:46 pm • Comments

Mt. Gox moved 10,422.65 BTC worth about $739 million on Tuesday, June 2, its largest single transfer in months.

The shift comes as the defunct exchange faces an October 31, 2026 deadline to finish repaying creditors.

Bitcoin is the largest crypto asset by market capitalization, ranked #1 on CoinGecko data checked June 3. A big stack of old coins moving on-chain during a soft tape is the kind of thing the market notices.

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The transaction landed at 04:47 UTC in Bitcoin block 952,072.

Most of the coins, 10,306.35 BTC, went to a previously unseen address starting with 14FEEM.

The remaining 116.30 BTC went to the exchange’s known hot wallet beginning with 1Jbez.

None of the bitcoin has reached a custodian or an exchange yet. That detail keeps this an internal move for now rather than confirmed selling.

CoinDesk laid out the size and repayment stakes:

Defunct bitcoin exchange Mt. Gox moved 10,422.65 bitcoin worth roughly $739 million to a new wallet at 04:47 UTC on Tuesday, marking the largest single transfer in months and its biggest move ahead of the October 31, 2026 deadline to complete creditor repayments.

The transaction, recorded on Bitcoin block 952,072, sent 10,306.35 BTC ($730.78 million) to a previously unseen address starting with 14FEEM.

A smaller 116.30 BTC ($8.25 million) slice routed to Mt. Gox’s known hot wallet at 1Jbez.

The split pattern mirrors earlier administrative transfers that preceded creditor distributions, though none of the coins has yet been forwarded to a custody provider or exchange.

Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved holding tied to any failed crypto exchange.

Repayments officially began in mid-2024 and around 19,500 creditors have received funds, though trustee Nobuaki Kobayashi has pushed back the final deadline twice.

That last point is the part traders watch. Many of these creditors are sitting on coins bought before the 2014 collapse, so even partial payouts arrive deep in profit.

Coins held that long and that far in the green are the kind that can hit the market when they finally land in creditor hands.

The split structure mirrors earlier administrative moves tied to creditor distributions.

The exchange has done this before, and the coins did not always head straight to an exchange.

Still, the timing stands out. The transfer hit while Bitcoin was already under pressure, and the price slipped further the next day.

The right read here is patience, not panic. The coins have not been sold, the deadline is still months out, and a strong bid can absorb supply that arrives in an orderly way.

But $2.43 billion in old Bitcoin still sits in the exchange’s wallets, and the clock runs to October 31.

This overhang stays in view until the last creditor is paid.

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