Mt. Gox Bitcoin Repayments Nearing Completion After Decade-Long Saga
Tokyo – After nearly a decade of legal battles and anticipation, the final chapter in the Mt. Gox saga is drawing to a close. As of October 31, 2025, the extended deadline for repayments to creditors of the once-dominant Bitcoin exchange will expire, possibly ending the long-held fear of a massive Bitcoin sell-off that has periodically weighed on the cryptocurrency market.
The collapse of Mt. Gox in 2014, following a massive hack and the loss of 850,000 BTC (then worth approximately $473 million), sent shockwaves through the nascent cryptocurrency world. A civil rehabilitation plan was launched, promising to return funds to verified creditors, but the process has been protracted and fraught with uncertainty. Throughout 2024 and 2025, the prospect of creditors receiving their Bitcoin sparked concerns that a flood of sell orders could depress prices, especially as the market navigated a bull rally that saw Bitcoin surpass $100,000 in December 2024.
In early July 2024, movements from Mt. gox wallets began as the exchange prepared for creditor repayments.Initial fears of immediate selling materialized into a minor dip after Kraken, one of the distribution exchanges, announced completion of its process on July 24.however, contrary to predictions – some analysts speculated up to 99% of creditors would sell – the actual repayments triggered “no significant spike” in trading volume, according to CryptoQuant founder Ki Young Ju. By August 1, Arkham data revealed Mt. Gox’s holdings had decreased by nearly 100,000 BTC, leaving approximately 46,000 BTC remaining under the trustee’s control.
On October 10, 2024, trustee Nobuaki Kobayashi announced the completion of most repayments to verified creditors, though many remained pending due to incomplete procedures. Subsequently, with court approval, the repayment deadline was extended to October 31, 2025, urging remaining creditors to finalize submissions.
As of today, Mt. Gox wallets still hold roughly 34,689 BTC, valued at approximately $3.9 billion, awaiting final distribution. in March 2025,the exchange initiated movements between its wallets,likely in readiness for the final round of repayments before the Halloween deadline. The triumphant, albeit slow, distribution of funds represents a significant step towards closure for the Mt. Gox saga and removes a persistent overhang on the bitcoin market.
