Mt. Gox’s Coins on the Move as BTC Price Plunges to $66K

Following the most recent transfers, there is still $810 million worth of Bitcoin left in known wallets associated with the exchange.

Mt. Gox emerged as one of the main bearish catalysts earlier this year, putting severe pressure on the price of Bitcoin. It started repaying creditors in July in Bitcoin and Bitcoin Cash. Many of the exchange's customers had to wait for roughly a decade in order to get their money back.

The exchange ended up repaying more than $6 billion worth of Bitcoin in July and August, according to SpotOnTrack data. In early September, Mt. Gox was left with about 30% of its initial holdings.

Now, it seems like the repayment process is almost over, meaning that the exchange is unlikely to contribute to more selling pressure.

Last month, the exchange's managing trustee announced that the deadline for repayments was pushed back to Oct. 31, 2025. The trustee noted that many creditors were yet to receive their repayments due to failing to complete the required procedures. Moreover, Mt. Gox also stumbled upon some issues during the repayment process.