Mt. Gox Sends Bitcoin To Exchange Amid BTC Price Crash To $61K

Amid Bitcoin’s dramatic crash around $61,400, defunct crypto exchange Mt. Gox has moved Bitcoin to the Bitstamp exchange. The move has spurred fears of a selloff as FUD grows in the market

Mt. Gox Dumps Bitcoin On Exchange

According to Arkham Intelligence data, Mt. Gox moved 116.3 BTC worth about $8.16 million to Bitstamp recently. The movement has captured the interest of market watchers. Netizens are questioning whether there will be an increase in the selling pressure in the market due to creditor related distributions.

The transfer comes after a much bigger on-chain transaction earlier this week. As CoinGape reported previously, it involved the transfer of 10,422.65 BTC valued at about $739 million.

The transaction was confirmed by 04:47 UTC in Bitcoin block #952,072, according to data from Arkham. Most of the money ($730.78 million and 10,306.35 BTC) was transferred to a new wallet that starts with the address prefix “14FEEM.”

Another 116.30 BTC, valued at approximately $8.25 million at the time of transfer, were transferred to a wallet associated with the Mt. Gox operations. This stash was subsequently offloaded to Bitstamp in the latest transaction.

The latest transfer shows the possibility of converting some of the funds to facilitate the credits’ repayments in the fiat currency. On the other hand, it could transfer the BTC to creditors via Bitstamp, as seen in previous records. Such speculations grew as the October 2026 repayment deadline is drawing closer.

According to the latest data on Arkham, there are still around 24,081 BTC in wallets under Mt. Gox’s control. Those holdings would be worth approximately $1.55 billion.

Meanwhile, Bitcoin is suffering from a massive downturn. The BTC price plunged below $62,000 below rebounding above $64,000 today. Market participants are holding Mt. Gox movements partly responsible for the crash.

About The October 2026 Deadline

The transfers followed the extension of Mt. Gox’s creditors’ payment deadline by one year. Last year, the trustee for the rehabilitation in a notice said the deadline was extended from October 31, 2025, to October 31, 2026, with court approval.

Base repayments, early lump-sum repayments and intermediate repayments have been mostly finished for eligible creditors. However, there are some who have still not received their trust funds due to unresolved procedural matters or missing paperwork.

This was the third extension since the deadlines for repayment were postponed from October 31, 2023.

Established in Tokyo in 2010, Mt. Gox was responsible for most of the Bitcoin trading volume worldwide until it crashed after a security breach in 2014 which caused it to lose about 850,000 BTC.

Creditors’ assets recovered for distribution include 142,000 Bitcoin, 143,000 Bitcoin Cash and approximately 69 billion Japanese Yen ($431 million) cash. As of March 27, 2025, the trustee had already paid Bitcoin and Bitcoin Cash back to 19,500 creditors via platforms like Kraken and Bitstamp.

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