The long-running Mt. Gox saga has taken yet another turn, with the defunct Bitcoin exchange announcing a fresh delay in its repayment schedule — pushing creditor reimbursements to October 31, 2026.
The decision, disclosed in an official notice on Monday, comes just days before the previous deadline of October 31, 2025. The exchange’s rehabilitation trustee stated that while a large portion of the base, early lump-sum, and interim payments have already been processed for verified creditors, a significant number still haven’t received their funds.
“To make the repayments to rehabilitation creditors as far as reasonably possible, the trustee — with court approval — has extended the deadline,” the announcement explained.
The Mt. Gox collapse: A decade-old wound
Once the dominant force in the crypto world, Mt. Gox handled more than 70% of all Bitcoin transactions at its peak in 2014. Its sudden downfall came in February of that year when the exchange revealed it had lost around 850,000 BTC in a massive hack, leading to its bankruptcy filing in Japan.
Roughly 200,000 BTC were later recovered, but the remaining 650,000 BTC are still unaccounted for. After years of legal proceedings, the court-approved rehabilitation plan began rolling out partial repayments in 2024, including distributions in Bitcoin (BTC) and Bitcoin Cash (BCH).
Fears of a market impact linger
Ever since repayment plans were announced, investors have speculated that the release of such a large amount of Bitcoin could trigger heavy selling pressure. However, analysts have remained divided on the real impact this would have.
Blockchain data from Arkham Intelligence shows Mt. Gox’s remaining holdings have dropped to 34,690 BTC, worth nearly $4 billion — down over 75% from the 142,000 BTC it still held in mid-2024.
While some warn that creditor distributions could briefly rattle the market, others believe any effect will be short-lived, as most creditors are long-term holders unlikely to sell immediately.
The Mt. Gox story, now entering its twelfth year, continues to serve as one of crypto’s longest and most painful reminders of the industry’s early vulnerabilities.
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