Mt. Gox Moves 500 BTC to Unknown Addresses Amid Delayed Creditor Repayments

The defunct cryptocurrency exchange Mt. Gox, infamous for its 2014 collapse, transferred 500 Bitcoin (BTC) worth approximately $35.04 million on November 1 to undisclosed wallets, according to Arkham Intelligence data. The transfer, made from Mt. Gox’s cold wallet to an address beginning with “12cTj,” marks one of the first substantial movements from the exchange in over a month.

Following this initial transaction, two additional transfers were recorded—31.78 BTC and 468.24 BTC—both sent to unnamed addresses. As of now, Mt. Gox’s cold wallet retains around 44,900 BTC (roughly $3.11 billion), awaiting distribution to creditors.

In recent months, Mt. Gox has executed several large transfers. In August, the exchange moved over $855 million in BTC, and in July, $2.5 billion worth of Bitcoin was transferred for creditor distribution through exchanges like Kraken and Bitstamp.

Despite these transactions, the Rehabilitation Trustee overseeing Mt. Gox’s asset management recently postponed the deadline for remaining creditor repayments by another year to October 31, 2025, citing incomplete repayment procedures by some creditors. Concerns are growing among investors about the potential impact of these large movements on Bitcoin’s spot prices, as the cryptocurrency experienced a 5.5% drop shortly after reaching a 90-day high of $73,295.