One of the world’s first crypto exchanges, the now-defunct Bitcoin exchange Mt. Gox, has again postponed repayments to creditors, this time until October 2026.
According to a Monday announcement, Mt. Gox postponed customer repayments to Oct. 31, 2026. The notice came just four days before its Oct. 31, 2025, deadline.
According to the announcement, the trustee said that while most base, early lump-sum, and intermediate repayments had been completed for creditors who filed the necessary paperwork, many others have yet to receive funds.
“As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline,” the announcement said.
The Mt. Gox debacle
Mt. Gox, at its peak in early 2014, accounted for more than 70% of global Bitcoin (BTC) trading volume. It collapsed in February 2014 after disclosing the loss of about 850,000 BTC to a hack and filed for bankruptcy in Japan.
Related: Mt. Gox repayment shakes crypto market, causing volatility
Later, about 200,000 BTC were recovered, leaving 650,000 BTC still missing as the estate proceeded through a lengthy court-run process. Under a court-approved rehabilitation plan, the trustee began making repayments in 2024, distributing Bitcoin and Bitcoin Cash (BCH).
Related: US Justice Department charges two men in Mt. Gox hack
Will Mt. Gox cause a sell-off?
The large amount of Bitcoin to be redistributed was long viewed with fear by market participants, some of whom expected it to lead to a significant sell-off. Still, not everyone shared such a pessimistic view of the event.
According to Arkham Intelligence data, Mt. Gox still holds 34,690 BTC worth almost $4 billion. This represents a decrease of over 75% from the 142,000 BTC it held in mid-2024.
In the summer of 2024, an onchain analyst suggested that the redistribution would have only short-term effects on the sell pressure.
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