Cryptocurrency exchange Mt. Gox transferred more than $739 million worth of Bitcoin on Tuesday, marking its first major onchain transaction in over two months and reviving speculation that creditor repayments could be approaching.
Blockchain data tracked by Arkham Intelligence shows that Mt. Gox moved 10,306 Bitcoin, valued at approximately $730.8 million, from one of its cold wallets to an unidentified address at 4:47 UTC. At the same time, the exchange transferred an additional 116.3 BTC worth about $8.25 million to its hot wallet.
ALERT: MT GOX MOVED $739 MILLION bitcoin:native pic.twitter.com/HzlND2XI78
— Arkham (@arkham) June 2, 2026
The movement comes as creditors continue to await the return of assets lost during the exchange’s collapse more than a decade ago.
Large transfer draws market attention
According to onchain data, the 10,306 BTC transferred to the new address remains untouched, indicating the funds have not yet been moved elsewhere. The smaller transfer sent to the hot wallet has already been spent, suggesting it may be linked to operational activities.
The latest transaction has attracted attention across the crypto market, as large wallet movements from Mt. Gox have historically fueled concerns about potential selling pressure. Many creditors are expected to receive Bitcoin as part of the rehabilitation process, and some market participants believe a portion of those holdings could be sold once distributed.
However, no official statement has been issued linking the latest transfers to an immediate repayment event.
Mt. Gox still holds over $2.4 billion in BTC
Despite the transfer, Mt. Gox retains approximately 34,504 BTC, valued at around $2.41 billion, across its wallets.
The exchange began distributing assets to creditors through partner exchanges Kraken and Bitstamp in July 2024. Progress has been gradual, with the rehabilitation trustee extending repayment deadlines several times. Last year, the trustee pushed the final repayment deadline to October 31, 2026, marking the third extension since the original October 2023 target.
Bitcoin faces pressure from corporate sales
The Mt. Gox transfer comes amid renewed selling activity from corporate Bitcoin holders. Strategy recently disclosed the sale of 32 BTC worth roughly $2.5 million to help fund distributions tied to its preferred stock program. The transaction reduced the company’s holdings to 843,706 BTC.
Meanwhile, ProCap Financial announced the sale of about 52 BTC to finance a share buyback program, purchasing approximately 2 million shares at a significant discount to net asset value.
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