The Mt. Gox trustee moved 116.3 Bitcoin — worth about $8.16 million at current prices — to the Bitstamp exchange earlier this week, sending Bitcoin down to $61,300. The transfer follows a much larger movement of 10,422.65 BTC ($739 million) a few days earlier that had already rattled markets. Creditor repayments, originally slated to wrap up in 2023, have now been delayed for a third time, with a new deadline set for October 31, 2026.
116.3 BTC to Bitstamp
The latest transaction, confirmed by blockchain data on June 5, involves a relatively small amount compared to the estate's total holdings. But it comes just days after the trustee sent a massive batch of coins to multiple exchanges, triggering a sharp sell-off. Bitstamp is one of the platforms where Mt. Gox creditors can receive their payouts, alongside Kraken. The timing of these moves — and the resulting price drop — has kept the market on edge.
What remains under estate control
Approximately 24,081 Bitcoin, valued at roughly $1.55 billion, is still sitting in wallets controlled by the Mt. Gox estate. That's on top of 143,000 Bitcoin Cash and 69 billion Japanese yen set aside for creditor recovery. In total, the estate holds about 142,000 Bitcoin, though much of that has already been earmarked for distribution. The trustee's pace of transfers has been uneven, with bursts of activity followed by weeks of silence.
Third deadline extension
The repayment deadline was originally set for October 2023, then moved to October 2025, and now pushed again to October 31, 2026. The latest extension was announced without a detailed public explanation, but it suggests procedural hurdles remain. As of March 2025, roughly 19,500 creditors had received payments through exchanges like Kraken and Bitstamp, but others are still waiting due to unresolved identity verification or account issues.
With the October 31, 2026 deadline now in place, the trustee will have to decide how quickly to distribute the remaining Bitcoin and Bitcoin Cash. The estate still holds enough BTC to push the market lower if sold rapidly, though the trustee has historically spaced out transfers. Creditors who haven't been paid yet are stuck in a process that has dragged on for over a decade — the exchange folded in 2014 after losing 850,000 Bitcoin in a security breach. Whether the final batch of repayments lands before Halloween remains the open question.
