One of the world’s first cryptocurrency exchanges, the now-defunct Mt. Gox, has once again postponed repayments to creditors, pushing the new deadline to October 31, 2026.
In an announcement released Monday—just days before the previous October 31, 2025 deadline—the exchange’s trustee confirmed that while most base, early lump-sum, and intermediate repayments have been completed for creditors who submitted the required documentation, many others have yet to receive their 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 notice stated.
The Mt. Gox Collapse
At its peak in early 2014, Mt. Gox handled over 70% of all global Bitcoin trading volume, serving as the dominant platform for crypto transactions. The exchange collapsed in February 2014 after revealing it had lost around 850,000 BTC in a major hack and subsequently filed for bankruptcy in Japan.
Roughly 200,000 BTC were later recovered, leaving about 650,000 BTC still missing as the exchange entered a lengthy, court-managed rehabilitation process. Under the approved repayment plan, the trustee began disbursing Bitcoin and Bitcoin Cash to eligible creditors in 2024.
Will the Repayments Trigger a Market Sell-Off?
The potential release of such a large amount of Bitcoin has long been a concern for the market, with many fearing it could trigger a wave of selling pressure. However, not all analysts agree with that outlook—some believe much of the expected selling has already been priced in or that many creditors will choose to hold rather than sell immediately.
According to Arkham Intelligence, Mt. Gox still holds 34,690 BTC, valued at nearly $4 billion—a sharp decline from the 142,000 BTC it held in mid-2024, marking a reduction of more than 75%.
As the repayment saga stretches into its twelfth year, Mt. Gox’s ongoing delays continue to test the patience of creditors and serve as a lingering reminder of one of the most infamous collapses in cryptocurrency history.
Still, back in the summer of 2024, an on-chain analyst suggested that the Mt. Gox repayments would likely have only short-term effects on selling pressure, arguing that most creditors had already waited for years and were more inclined to hold their recovered Bitcoin rather than immediately liquidate it.
