Satoshi

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Defunct Japanese cryptocurrency exchange Mt. Gox has made its largest Bitcoin move in eight months, even as it pushes back creditor repayments until late 2026.
The Mt. Gox-labelled cold wallet transferred 10,608 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) worth over $953 million into a new cryptocurrency wallet, marking its first large-scale transfer in eight months.
The transfer was also the first movement above $1 million from the address since March 25, when 893 BTC worth $77.3 million were moved, <a href="https://intel.arkm.com/explorer/entity/mt-gox" rel="noopener noreferrer nofollow" target="_blank">according</a> to Arkham.
Mt. Gox still holds 34,689 Bitcoin worth about $3.14 billion at the time of writing.
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 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a9623-e62a-771b-888c-943e0fada148" title="" alt="Mt. Gox moves $953M Bitcoin after 8 months, sparking market worries">
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 Mt. Gox-labelled wallet, transfers, balance history. Source: Arkham Intelligence
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The transfer came as a surprise for the crypto community, as the defunct crypto exchange <a href="https://cointelegraph.com/news/mt-gox-pushes-repayments-to-2026-as-decade-long-saga-drags-on" rel="noopener noreferrer nofollow">delayed its repayments</a> by another year, until Oct. 31, 2026, citing incomplete creditor procedures.
“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,” wrote Mt. Gox in an Oct. 27 <a href="https://www.mtgox.com/img/pdf/20251027_1cc36334-e8b2-4fe4-8135-97d9a149e4f7_announcement_en.pdf" rel="noopener noreferrer nofollow" target="_blank">announcement</a>.
The delay means around <a href="https://cointelegraph.com/news/mt-gox-repayment-delay-bullish-or-bearish-btc-price" rel="noopener noreferrer nofollow">$4 billion in Bitcoin</a> will be kept off the market for another year, reducing the risk of a sudden sell-off by Mt. Gox’s defunct creditors.
Mt. Gox’s repayments have a diminishing impact on Bitcoin price, as new institutional entrants, including Bitcoin treasury firms and US spot Bitcoin exchange-traded funds (ETFs), have been absorbing the newly released supply.
Bitcoin’s price has risen over 60% since <a href="https://cointelegraph.com/news/mt-gox-trustee-start-bitcoin-bitcoin-cash-repayments" rel="noopener noreferrer nofollow">Mt. Gox initiated</a> the first tranche of repayments in July 2024, from about $56,160 to $91,172 at the time of writing.
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 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a9642-f584-7ead-aa8b-16914447b017" title="" alt="Mt. Gox moves $953M Bitcoin after 8 months, sparking market worries">
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 BTC/USD, all-time chart. Source: Cointelegraph
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<h2 id="mt-gox-s-953-million-transfer-raises-investor-concerns">Mt. Gox’s $953 million transfer raises investor concerns</h2>
Some industry watchers viewed the transfer as a concerning sign that Mt. Gox was looking to sell its holdings, potentially adding more downside pressure to the crypto market correction.
“Mt. Gox has just moved over $900M in bitcoin, likely preparing to dump it on the market,” wrote Jacob King, financial analyst and CEO at SwanDesk, in a Tuesday X <a href="https://x.com/JacobKinge/status/1990651116904694087" rel="noopener noreferrer nofollow" target="_blank">post</a>.
However, the receiving wallet, labeled “<a href="https://intel.arkm.com/explorer/address/1ANkDML9LtVv1E1EF7cwPFEkSv6Bpojwyt" rel="noopener noreferrer nofollow" target="_blank">1ANkD</a>,” has so far only held the 10,608 BTC it received. It has not sent any coins to centralized exchanges, which would be a stronger sign that a sale is imminent.
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 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a9623-e96c-766b-80ff-b09472a942fb" title="" alt="Mt. Gox moves $953M Bitcoin after 8 months, sparking market worries">
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 Source: <a href="https://x.com/JacobKinge/status/1990651116904694087" rel="noopener noreferrer nofollow" target="_blank">Jacob King</a>
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Mt. Gox was once the world’s dominant <a href="https://cointelegraph.com/learn/what-is-bitcoin-a-beginners-guide-to-the-worlds-first-cryptocurrency" rel="noopener noreferrer nofollow" target="_self">Bitcoin</a> exchange, handling more than 70% of all BTC trades at its peak after launching in 2010.
The Tokyo-based platform collapsed in 2014 after revealing it had lost about 850,000 BTC in a security breach, in what remains one of the largest hacks in crypto history. A years-long civil rehabilitation process has since attempted to recover and distribute remaining assets to creditors, who have endured repeated delays and shifting timelines for repayment.<iframe width="100%" height="315" src="https://www.youtube.com/embed/dzCZmNq9bjI?start=" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen loading="lazy" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
Magazine: <a href="https://cointelegraph.com/magazine/benjamin-wallace-mysterious-mr-nakamoto-review/" rel="noopener noreferrer nofollow">Mysterious Mr Nakamoto author — Finding Satoshi would hurt Bitcoin</a>

Mt. Gox moves $953M Bitcoin after 8 months, sparking market worries

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