As one of the earliest cryptocurrency exchanges in the world, the now-defunct Bitcoin exchange Mt. Gox has once again postponed the repayment date, this time to October 2026.
This notice comes just four days before the originally scheduled deadline of October 31, 2025.
The announcement stated that for most of the underlying creditors who have submitted the necessary documents, early one-time repayment creditors, and mid-term repayment creditors, the corresponding funds have been disbursed, but many creditors have yet to receive their funds.
The announcement read: "Given that it is more ideal to make repayments to such restructured creditors as reasonably as possible, the bankruptcy administrator has changed the deadline with the court's permission."
At its peak in early 2014, Mt. Gox accounted for over 70% of the global Bitcoin (BTC) trading volume. In February 2014, the platform collapsed after disclosing that approximately 850,000 Bitcoins had been stolen by hackers and subsequently filed for bankruptcy in Japan.
Subsequently, about 200,000 Bitcoins were recovered, and the recovered assets entered a long-term processing procedure led by the court. According to the court-approved restructuring plan, the bankruptcy administrator will begin repayments in 2024, distributing Bitcoin and Bitcoin Cash (BCH).
Market participants have long been concerned about the large amount of Bitcoin awaiting distribution, with some believing this could lead to a massive sell-off. Nevertheless, not all market participants hold a pessimistic view.
According to Arkham Intelligence data, Mt. Gox currently still holds 34,690 Bitcoins, with a total value of nearly $4 billion. This figure represents a significant decrease from the 142,000 Bitcoins it held in mid-2024—a drop of over 75%.
However, as early as the summer of 2024, an on-chain analyst suggested that redistribution would only have a short-term impact on selling pressure.
Related: Japan's first yen-pegged stablecoin JPYC officially launched
Original article: “Mt. Gox pushes repayments to 2026 as decade-long saga drags on”
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