Mt Gox has moved more than 10,400 Bitcoin for the first time in six months, with the value of the transfer falling by nearly $200mn compared with a similar transaction late last year as prices remain under pressure.
Mt Gox Moves 10,400 BTC as Market Slump Cuts Transfer Value by $200mn
2 June 2026 - 11:59 CEST
By Matt Neill
Data from Arkham Intelligence shows the defunct exchange shifted 10,423 BTC worth approximately $739mn on 1 June, mirroring a transfer of the same amount in November 2025, when the holdings were valued at about $937mn.
The difference highlights the scale of Bitcoin's decline over the past seven months. Bitcoin was trading around $71,000 at the time of the latest transfer, around 42% below its October 2025 all-time high of $122,250.
Dormant whale
The transaction marks Mt Gox's first significant wallet movement since December, when it transferred a similar amount of Bitcoin between addresses under its control.
Arkham data indicates the latest transfer moved coins from one Mt Gox cold wallet to another previously unidentified address. As with previous transfers, there was no immediate evidence that the Bitcoin was sent to exchanges or prepared for sale.
The move will nevertheless attract attention because Mt Gox remains one of the largest holders of dormant Bitcoin. According to Arkham, wallets linked to the estate continue to hold roughly 34,000 BTC worth more than $2.4bn at current prices. Large transfers by the estate have previously sparked speculation about creditor repayments and the possibility of additional Bitcoin entering the market.
Repayment timeline looms
The latest movement comes months after the court-appointed rehabilitation trustee extended the final repayment deadline to 31 Oct 2026.
More than 80,000 creditors have been waiting since Mt Gox collapsed in 2014 after losing an estimated 850,000 BTC in one of crypto's earliest and most consequential failures.
While partial repayments began in 2024 through exchanges including Kraken and Bitstamp, a substantial portion of Bitcoin distributions remains outstanding.
The transaction also serves as a reminder of just how much crypto market conditions have changed since hitting a peak in October last year. The same 10,423 BTC that carried a value of nearly $1bn six months ago is now worth roughly three-quarters of that amount.
