Mt. Gox Delays Creditor Repayments to 2026 Amid Ongoing Challenges

The defunct Bitcoin exchange Mt. Gox has announced another delay in its repayment schedule to creditors, pushing the deadline to October 31, 2026. This decision was disclosed just days before the previously set deadline of October 31, 2025. The trustee overseeing the process stated that while many creditors who submitted the required documentation have received their base, early lump-sum, and intermediate repayments, a significant number still await their funds. The trustee, with court approval, has extended the deadline to ensure repayments are made as feasibly as possible.
Mt. Gox was once a dominant force in the cryptocurrency market, handling over 70% of global Bitcoin trading volume at its peak in early 2014. However, the exchange collapsed in February 2014 following the loss of approximately 850,000 BTC due to a hack, leading to its bankruptcy filing in Japan. Subsequently, around 200,000 BTC were recovered, but about 650,000 BTC remain unaccounted for as the estate navigates a protracted court-supervised rehabilitation process. Under this plan, the trustee began distributing Bitcoin and Bitcoin Cash to creditors in 2024.
The impending redistribution of a large quantity of Bitcoin has sparked concerns among market participants about a potential sell-off. However, opinions on the matter vary. Data from Arkham Intelligence reveals that Mt. Gox currently holds 34,690 BTC, valued at nearly $4 billion, marking a significant reduction from the 142,000 BTC it held in mid-2024—a decrease exceeding 75%. Despite these concerns, some analysts believe that the redistribution will only exert short-term pressure on the market. The ongoing saga of Mt. Gox continues to be a point of interest and speculation within the cryptocurrency community.#ETHOn-ChainActivityRises