Mt. Gox Moves Nearly $1 Billion in Bitcoin as Repayments Near Imminent Completion
On November 18, 2025, Mt. Gox wallets moved a total of 10,608 BTC, approximately $988 million, across several addresses. Of this amount, 185 BTC, valued at $16.8 million, was sent to the Mt. Gox hot wallet and subsequently transferred to the Kraken exchange. The remaining 10,423 BTC was moved to a new address. This marks the first major movement from Mt. Gox wallets since March 2025.
Kraken is one of five exchanges assisting the Mt. Gox trustee with creditor repayments. Since repayments began last year, about 19,500 creditors have been repaid. Mt. Gox's Bitcoin balances have decreased by over 100,000 BTC since July 2024 and currently stand at around 35,000 BTC, valued at about $3.2 billion.
The repayment process experienced delays and is now expected to conclude by the end of October 2026, following a Tokyo court-approved rescheduling due to incomplete creditor procedures. Initial repayments have exerted selling pressure on Bitcoin, with BTC prices dropping about 0.5% in 24 hours to around $93,302, down approximately 11% over the past week, and about 26% below the August high near $126,000.
Mt. Gox originally lost roughly 850,000 BTC in 2014 as a result of a Bitcoin source-code vulnerability.
