Mt. Gox, one of the world's earliest cryptocurrency exchanges, has once again delayed repayments to its creditors, this time pushing the deadline to October 2026.
According to an announcement made on Monday, Mt. Gox has extended the customer repayment deadline to October 31, 2026. This notification arrived just four days before the previously scheduled October 31, 2025, deadline.
The trustee stated that while the majority of base, early lump-sum, and intermediate repayments have been processed for creditors who submitted the required documentation, many others are still awaiting 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 announcement reads.
The Mt. Gox Debacle
At its zenith in early 2014, Mt. Gox was responsible for over 70% of global Bitcoin (BTC) trading volume. The exchange collapsed in February 2014 after disclosing the loss of approximately 850,000 BTC to a hack and subsequently filed for bankruptcy in Japan.
Later, about 200,000 BTC were recovered, leaving roughly 650,000 BTC unaccounted for as the estate navigated a protracted court-supervised process. Under the court-approved rehabilitation plan, the trustee commenced repayments in 2024, distributing Bitcoin and Bitcoin Cash (BCH).
Will Mt. Gox Cause a Sell-Off?
The substantial amount of Bitcoin slated for redistribution has long been a source of apprehension among market participants, with some anticipating a significant sell-off. However, not all perspectives on this event are pessimistic.
Data from Arkham Intelligence indicates that Mt. Gox currently holds 34,690 BTC, valued at nearly $4 billion. This represents a notable reduction from the 142,000 BTC it held in mid-2024, marking a decrease of over 75%.
Despite this, in the summer of 2024, an on-chain analyst suggested that the redistribution would only have short-term effects on sell pressure.