CoinDesk
Defunct bitcoin exchange Mt. Gox moved 10,422.65 BTC worth roughly $739 million on Tuesday in its largest transfer in months, routing 10,306.35 BTC ($730.78M) to a previously unseen address starting with 14FEEM while sending a 116.30 BTC ($8.25M) slice to its known 1Jbez hot wallet, per Arkham Intelligence. The transaction landed on Bitcoin block 952,072 at 04:47 UTC and is the latest in a series of administrative moves tied to creditor distributions, though none of the coins has yet been forwarded to a custodian or exchange.
Why it matters
Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved balance tied to any failed crypto exchange, and trustee Nobuaki Kobayashi has now extended the final repayment deadline twice — most recently in October 2025, when a Tokyo court pushed it from October 31, 2025 to October 31, 2026. The split pattern of this transfer mirrors earlier shuffles that preceded actual payouts, and the roughly 19,500 creditors awaiting funds largely acquired their bitcoin before the 2014 collapse, meaning distributions would deliver coins into the hands of sellers sitting on substantial unrealized gains. Even administrative movements, before any coin reaches a venue, tend to prime market expectations of supply hitting the order book.
Market impact
The move landed during an already fragile tape: BTC slid below $71,000 for the first time in weeks, down 3.4% in 24 hours, as Strategy's first publicly disclosed bitcoin sale, a record 10-session spot ETF outflow streak, and stalled U.S.-Iran ceasefire talks compounded the pressure. With the Mt. Gox overhang unresolved through October 2026 and a deep stack of creditor-acquired coins waiting to be distributed, the transfer adds another layer to the supply-side narrative traders will be watching on-chain for signs of movement toward an exchange or custodian.
Frequently asked questions
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How much bitcoin did Mt. Gox move and where did it go?
Mt. Gox moved 10,422.65 BTC (~$739M) on Tuesday, routing 10,306.35 BTC to a previously unseen address starting with 14FEEM and 116.30 BTC to its known 1Jbez hot wallet, per Arkham Intelligence.
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How much bitcoin does Mt. Gox still hold?
The defunct exchange still holds roughly 34,504 BTC valued at about $2.43 billion, the largest unresolved balance tied to any failed crypto exchange.
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When is the Mt. Gox repayment deadline?
Trustee Nobuaki Kobayashi pushed the final deadline to October 31, 2026 after a Tokyo court approved the extension in October 2025, citing incomplete creditor procedures and pending processing issues.
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Have any of the moved coins reached a custodian or exchange?
No. The October 2026 transfer mirrors earlier administrative shuffles that preceded prior distributions, but none of the 10,422 BTC has yet been forwarded to a custody provider or exchange.
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Why is the Mt. Gox move weighing on bitcoin's price?
Roughly 19,500 creditors acquired their coins before the 2014 collapse, so any distribution would deliver bitcoin to sellers sitting on substantial unrealized gains, keeping a supply overhang in focus through the 2026 deadline.
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