Mt. Gox, the once-leading cryptocurrency exchange, recently transferred 11,501 Bitcoin, valued at around $905 million, to an unmarked wallet. This comes as the deadline for repaying creditors has been extended to October 2025. The move follows a previous transfer of over $1 billion to another wallet linked to the exchange. Currently, Mt. Gox controls about 35,915 Bitcoin, valued at $2.8 billion, as it continues to repay those affected by a massive 2014 hack. While the purpose of this latest transfer remains unclear, it raises speculations about potential impacts on Bitcoin’s price, as creditor payments could increase Market pressure. The cryptocurrency community is closely monitoring these developments as they could shape the future of Bitcoin’s Market.
Mt. Gox Transfers $905 Million in Bitcoin as Repayment Deadline Extended
Recently, Mt. Gox, a major cryptocurrency exchange that went bankrupt after a significant hack in 2014, moved 11,501 Bitcoin—valued at about $905 million—to an unmarked wallet. This transfer occurred on March 11, 2025, at 12:15 a.m. UTC. Most of the Bitcoin was sent to a mysterious wallet starting with “1Pazv,” while a smaller amount of 332 BTC was directed to the exchange’s warm wallet, neither of which have been spent.
This move follows another Bitcoin transfer of $1.07 billion to a wallet starting with “1Mo1n” the previous week. Although this address wasn’t initially recognized as belonging to Mt. Gox, the recent activity indicates a strong connection. Presently, Mt. Gox still holds over 35,915 Bitcoin, worth approximately $2.8 billion, which is being utilized to repay creditors affected by the 2014 hack that resulted in the loss of around 850,000 BTC.
In July 2024, Mt. Gox began the process of repaying its creditors, using its holdings of Bitcoin, Bitcoin Cash, and Japanese yen for these transactions. However, the repayment deadline has now been pushed to October 2025. While there are speculations regarding the purpose of the latest transfer, it remains unclear if this indicates the start of further payments to creditors.
These recent movements of Bitcoin have sparked concerns about their potential impact on Market prices. Analysts suggest that if Mt. Gox starts distributing assets to its creditors, it could lead to increased selling pressure, possibly affecting Bitcoin’s value. Some experts predict it may drop to as low as $75,000 amid the ongoing Market volatility.
Once the largest Bitcoin exchange globally, Mt. Gox played a key role in the cryptocurrency landscape, handling 70% of all Bitcoin trades by 2013. However, after its hack, it entered a long bankruptcy process aimed at compensating its creditors. Despite ongoing repayments, around $2.8 billion in Bitcoin still remains with the exchange. As Mt. Gox works to fulfill its obligations, its future asset movements are likely to hold significant implications for the overall Market dynamics.
With continued scrutiny on Mt. Gox’s holdings and repayment strategies, the cryptocurrency community keeps a close watch on how these developments might shape Bitcoin’s future.
Keywords: Mt. Gox, Bitcoin transfer, cryptocurrency Market.
Secondary Keywords: cryptocurrency exchange, repayment deadline, Market impact.
What is the latest news about Mt. Gox?
Mt. Gox transferred $905 million in Bitcoin to an unmarked wallet as part of its repayment plan. The deadline for these repayments has now been extended to October 2025.
Why was the repayment deadline pushed to 2025?
The repayment deadline was extended to allow for more time to complete the necessary processes and ensure that all creditors receive their Bitcoin safely.
Who are the creditors of Mt. Gox?
The creditors are individuals and businesses who lost Bitcoin when Mt. Gox went bankrupt in 2014. They are awaiting repayment of their lost funds.
What does it mean to transfer Bitcoin to an unmarked wallet?
Transferring Bitcoin to an unmarked wallet means moving the cryptocurrency to a wallet that is not easily identifiable. This is often done for security or privacy reasons.
How will creditors get their Bitcoin back?
Once the necessary processes are completed, the creditors will receive their Bitcoin through a distribution plan set by Mt. Gox. They will need to follow specific instructions to access their funds.