Bitcoin Today News: Mt. Gox Repayment Delayed by One Year, 4 Billion Dollars Will Only Be Available in 2026

The defunct crypto assets exchange Mt. Gox announced that the repayment deadline for creditors has been postponed for another year to October 31, 2026, marking the third extension. Arkham Intelligence data shows that the Mt. Gox wallet address still holds 34,689 BTC, worth approximately 4 billion dollars.

Mt. Gox Third Delay, Extended from 2023 to 2026

(Source: Mt. Gox)

Mt. Gox rehabilitation trustee announced on Monday that it has “basically completed” the basic repayment of creditors who have successfully completed the repayment qualification procedure, early one-time repayments, and mid-term repayments. However, the announcement stated that many creditors have not yet received repayments due to the failure to complete necessary procedures or problems that arose during the process. The announcement stated: “In order to repay debts to such restructured creditors within a reasonable and feasible range, with the permission of the court, the deadline for debt repayment has been changed from October 31, 2025, to October 31, 2026.”

The latest announcement marks the third postponement of the repayment deadline for the already closed exchange. The repayment deadline was initially set for October 31, 2023, then postponed to October 31, 2024, further extended to October 31, 2025, and now delayed again to October 31, 2026. This repeated pattern of delays has sparked strong dissatisfaction among creditors, many of whom have been waiting for over ten years to reclaim their assets.

For investors who have been closely following today's news about Bitcoin, the repayment progress of Mt. Gox has been a focal point of the market. Every announcement of a delay triggers market fluctuations, as investors need to reassess when potential sell-off pressure might materialize. The large-scale Bitcoin sell-off that was originally expected to occur by the end of 2025 has now at least been postponed by a year, which provides some support for short-term market sentiment.

From the creditor's perspective, this repeated delay is extremely frustrating. A creditor waiting for repayment stated on social media: “I lost these bitcoins in 2014 when the price was still low. Now Bitcoin has risen hundreds of times, and I still have to wait. Every delay feels like rubbing salt in the wound.” This sentiment is quite common among the creditor community, with many believing that the trustee's handling efficiency is too slow.

19,500 creditors have been compensated, but progress is still slow

According to the announcement on March 27, 2025, the rehabilitation trustee has repaid 19,500 creditors using BTC and Bitcoin Cash. This number seems substantial, but the progress is still relatively slow compared to the total number of creditors. Since mid-2024, several creditors have reported receiving payments through CEX exchanges.

The complexity of the repayment process is one of the main reasons for delays. Creditors need to complete multiple verification procedures, including identity verification, binding bank accounts, and selecting repayment methods (fiat or Crypto Assets). Many creditors encounter problems during these steps, such as incomplete documentation, outdated bank information, or compliance issues due to changes in their country of residence. Additionally, some creditors may have passed away or lost contact, increasing the difficulty for trustees to track and confirm.

Mt. Gox Repayment Progress Timeline:

September 2023: Announced plans to repay 142,000 BTC, 143,000 BCH, and 69 billion yen (510 million USD)

Mid 2024: Start the first batch of repayments through CEX

March 2025: Approximately 19,500 creditors have been repaid.

October 2025: Announced a further delay of one year until October 2026

From the numbers, the 19,500 creditors that have been repaid may only account for a portion of the total number of creditors. Although the authorities have not disclosed the exact total number of creditors, industry estimates suggest there could be tens of thousands of creditors awaiting repayment. This means that even if the deadline is postponed to 2026, there may still be a large number of creditors who will not receive repayment within the timeframe.

still holding 34,689 BTC, the shadow of market selling pressure lingers

Arkham's on-chain data shows that Mt. Gox still holds 34,689 BTC, worth about 4 billion dollars at the current Bitcoin price of around 110,000 dollars. This number is significant for the market, as once these Bitcoins are distributed to creditors, it could trigger massive selling pressure.

In today's news about Bitcoin, the potential selling pressure from Mt. Gox has been the focus of analysts and traders. The cost basis for these Bitcoins is very low, with most creditors' purchase prices years ago likely being only a few hundred to a few thousand dollars. When they receive repayments, even selling at current prices will yield profits of tens or even hundreds of times. This enormous profit potential has led the market to generally expect that creditors will choose to cash out immediately rather than hold long-term.

However, some analysts believe that the selling pressure may be overestimated. First, some creditors may be firm believers in BTC, having experienced a decade of waiting, and may be more inclined to continue holding. Second, repayments are made in batches and will not release all BTC at a single point in time. Third, some creditors may choose to accept fiat repayments instead of BTC, which will reduce the actual amount of BTC flowing into the market.

From a technical perspective, the quantity of 34,689 BTC is indeed considerable, accounting for a certain percentage of the daily trading volume of Bitcoin. If a concentrated sell-off occurs in the short term, it could indeed exert downward pressure on the price. However, considering the liquidity and depth of the global Bitcoin market, this impact is likely to be temporary. There have been similar cases in history, such as the auction of Bitcoin seized by the government, which caused volatility in the short term, but had limited long-term effects.

A Review of the Mt. Gox Incident and Its Impact on the Crypto Industry

Mt. Gox is an exchange based in Tokyo, founded in 2010, and was one of the largest Bitcoin trading platforms at the time, handling over 70% of the global Bitcoin trading volume at its peak. In 2014, the company suffered a security breach, losing 850,000 BTC, which led the company to suspend withdrawal operations and file for bankruptcy protection. This incident became one of the largest hacking attacks in cryptocurrency history, severely undermining the confidence of early investors.

The Mt. Gox incident had a profound impact on the entire crypto industry. First, it exposed the security vulnerabilities of centralized exchanges, prompting the industry to raise security standards. Second, it spurred regulatory discussions, with governments around the world beginning to focus on the regulatory framework for cryptocurrency exchanges. Third, it gave rise to the concept of “Not Your Keys, Not Your Coins,” encouraging users to use self-custody wallets instead of keeping their assets on exchanges for the long term.

In September 2023, the trustee of this now-defunct exchange announced plans to use the recovered assets to repay part of the original losses to creditors, which include 142,000 BTC and 143,000 Bitcoin Cash, as well as a total of 69 billion yen (510 million USD) in fiat currency. The recovery of these assets is in itself a miracle, demonstrating the traceability of blockchain technology and the effectiveness of the Japanese judicial system.

For readers interested in today's news about Bitcoin, the Mt. Gox incident offers important lessons. It reminds investors that centralized exchanges always carry risks, and diversifying assets and using cold Wallets is the best way to protect assets. At the same time, it also demonstrates the long-term value of Bitcoin as an asset. The Bitcoin lost years ago has now increased in value by hundreds of times. Although creditors have experienced a long wait, the compensation they ultimately receive is still quite substantial.