Nearly ten years after its resounding fall, Mt. Gox resurfaces. Indeed, the former Japanese bitcoin giant suddenly moved more than 10,000 BTC, or $953 million, after eight months of silence. This massive transfer revives fears of a large-scale liquidation. Worse still, the creditors, already tested, will have to wait until 2026 to hope for repayment. Enough to reignite tensions around the oldest scandal in crypto history.
In brief
- Mt. Gox transferred 10,608 BTC, or $953 million, after eight months of inactivity.
- This massive move has reignited fears of a potential sell-off in the market.
- However, the receiving address has not made any outgoing transactions to date.
- At the same time, repayments to creditors are once again postponed, this time until October 31, 2026.
A transfer of 10,608 BTC which calls out
On November 16, 2025, a wallet identified as belonging to Mt. Gox transferred 10,608 BTC, equivalent to $953 million, to a new storage address, despite a phishing attempt targeting 8.7 billion in Bitcoin stolen from the company.
This is the first transaction of such magnitude since March 2024, when 893 BTC were moved for a value then estimated at $77.3 million. This unexpected move immediately raised suspicions in the crypto community, with some analysts fearing that it could precede a massive sell-off.
“Mt. Gox just moved over $900M in bitcoin, likely in preparation for a market dump”alerted Jacob King, CEO of SwanDesk, in a post published on X.
Several elements come to contextualize this transfer without allowing us to conclude on an imminent liquidation:
- The receiving wallet, labeled “1ANkD”, has not made any outflows since receiving the 10,608 BTC;
- This is the first transfer over $1 million in eight months;
- The Mt. Gox wallet still holds 34,689 BTC, or almost $3.14 billion;
- No concrete evidence indicates a move towards a centralized trading platform, which would be a clearer signal of selling intent;
- No official statement has been made to clarify the nature or objectives of this transfer.
As it stands, this movement challenges rather than provides answers. It comes in a context of market correction and at a strategic moment when creditors were expecting repayments. Even if no sale is confirmed at this stage, the opacity of the approach fuels the caution, even the anxiety, of observers.
A further postponement of reimbursements
In parallel with this massive transfer, the trust responsible for the rehabilitation of Mt. Gox announced a new postponement of repayments to creditors, now set for October 31, 2026.
In a press release dated October 27, 2025, the statement is unambiguous: “as it is desirable to make repayments to the extent reasonably practicable, the Rehabilitation Trustee, with the leave of the court, has modified the deadline”. This decision, although legal and validated by the court, further prolongs a process initiated since 2014, to the great despair of injured creditors.
This postponement concerns a sum estimated at 4 billion dollars in bitcoin, which will therefore remain frozen for at least one more year. If this inertia limits, in the short term, the risk of massive sales capable of destabilizing the market, it nevertheless raises questions about the management of the procedure. Especially since the first tranche of repayment was initiated in July 2024, marking what many hoped would be the beginning of the end of a decade-long series.
The postponement of refunds and the massive transfer of BTC reignites uncertainties around Mt. Gox. In a sensitive market, any future action could weigh on the price of bitcoin, still vulnerable to the slightest selling pressure linked to this affair with always unpredictable repercussions.
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