Mt. Gox transfers $731M in Bitcoin to new wallet as market eyes $70K support
This significant transfer may impact Bitcoin market dynamics, influencing investor sentiment and potentially affecting cryptocurrency prices.
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Add us on Google by Vivian Nguyen Jun. 2, 2026Defunct crypto exchange Mt. Gox transferred 10,423 Bitcoin on Monday, its first on-chain movement in two months. Of that amount, approximately 10,306 BTC, valued at about $731 million, was sent to a new wallet address, according to Arkham Intel data.
The transfer weighed on market sentiment at a time when Bitcoin was already under pressure. The largest crypto asset was trading at $70,000, down 4% in the last 24 hours, CoinGecko data shows.
AdvertisementBTC retreated from $73,000 earlier today following a 32 BTC sale by Strategy and $484 million in ETF outflows, which stretched the spot ETF outflow run to 11 consecutive days.
The latest transaction has revived speculation over creditor repayments as Mt. Gox’s long-running rehabilitation process approaches its final deadline.
The final repayment deadline remains October 31, 2026, giving the Rehabilitation Trustee approximately five months to complete outstanding creditor distributions.
According to Mt. Gox Rehabilitation Trustee, most repayments have already been made to eligible creditors who have completed all required procedures, with around 19,500 creditors having received their Bitcoin and Bitcoin Cash repayments as of March 2025. The trustee has said that the remaining payouts will be finalized as reasonably practicable with court approval before the October 31, 2026 deadline.
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