Mt. Gox, the once-dominant Tokyo-based bitcoin alternate, is about to finish its long-running creditor compensation course of by October 31, 2025.
The alternate, which collapsed in 2014 after dropping roughly 650,000 BTC to theft, nonetheless holds round 34,689 bitcoin—valued at roughly $3.9 billion—awaiting distribution to verified collectors.
Early bitcoin gross sales and market affect
After the restoration of about 200,000 BTC in an old-format pockets, court-appointed trustee Nobuaki Kobayashi managed the sale of serious bitcoin holdings to fund fiat repayments.
Between September 2017 and March 2018, Kobayashi offered 35,841 BTC for about $360 million, with the most important single sale occurring on February 6, 2018.
These gross sales, which lowered Mt. Gox’s bitcoin holdings to about 166,000 BTC, coincided with durations of notable bitcoin value volatility.
Transition from liquidation to rehabilitation
Following additional bitcoin gross sales in April and Could 2018, creditor petitions led the Tokyo District Court docket to halt chapter proceedings and open civil rehabilitation.
This shift allowed for repayments in bitcoin or Bitcoin Money quite than money conversions, stabilizing the remaining holdings at round 142,000 BTC.
Repayments and deadline extension
In mid-2024, Mt. Gox started shifting bitcoin in preparation for repayments underneath court docket supervision.
On October 10, 2024, trustee Kobayashi introduced that almost all repayments to verified collectors had been accomplished, however some circumstances remained pending.
With court docket approval, the compensation deadline was prolonged to October 31, 2025, permitting extra time for excellent claims to be processed. At current, Mt. Gox wallets maintain over 34,000 BTC, with last distributions anticipated by the brand new deadline.