Crypto Panic Rises After Mt. Gox Wallet Reactivates

Nearly ten years after its spectacular collapse, Mt. Gox resurfaces. Indeed, the former Japanese bitcoin giant suddenly moved over 10,000 BTC, worth $953 million, after eight months of silence. This massive transfer rekindles fears of a large-scale liquidation. Worse still, creditors, already battered, will have to wait until 2026 to hope for reimbursement. Enough to revive tensions around the oldest scandal in crypto history.

A transfer of 10,608 BTC that raises questions

On November 16, 2025, a wallet identified as belonging to Mt. Gox transferred 10,608 BTC, equivalent to $953 million, to a new storage address, while a phishing attempt targeted $8.7 billion in Bitcoins stolen from the company.

This is the first transaction of such magnitude since March 2024, when 893 BTC were moved for a value then estimated at $77.3 million. This unexpected move immediately raised the suspicions of the crypto community, with some analysts fearing it precedes a massive sale.

“Mt. Gox just moved over $900M in bitcoin, probably in preparation for a market dump,” warned Jacob King, CEO of SwanDesk, in a post published on X.

Several factors provide context for this transfer without allowing conclusions of an imminent liquidation :

• The recipient wallet, labeled “1ANkD”, has made no outgoing transactions since receiving the 10,608 BTC ;

• This is the first transfer exceeding $1 million in eight months ;

• The Mt. Gox wallet still holds 34,689 BTC, nearly $3.14 billion ;

• No concrete evidence indicates movement toward a centralized exchange platform, which would be a clearer signal of intent to sell ;

• No official statement has been made to clarify the nature or objectives of this transfer.

As it stands, this move raises questions more than it provides answers. It occurs in a market correction context and at a strategic moment when creditors awaited repayments. Even if no sale is confirmed at this stage, the opacity of the process fuels caution, even anxiety among observers.

A new postponement of repayments

Alongside this massive transfer, the trust responsible for Mt. Gox’s rehabilitation announced a new postponement of creditor repayments, now scheduled for October 31, 2026.

In a statement dated October 27, 2025, the declaration is unambiguous : “as it is desirable to proceed with repayments as reasonably practicable, the rehabilitation trustee, with court authorization, has changed the deadline.” This decision, although legal and validated by the court, further extends a process ongoing since 2014, much to the despair of the harmed creditors.

This postponement involves an estimated sum of $4 billion in bitcoin, which will therefore remain frozen for at least one more year. While this inertia limits, in the short term, the risk of massive sales capable of destabilizing the market, it nevertheless raises questions about the management of the procedure. Especially since the first repayment tranche had started in July 2024, marking what many hoped would be the beginning of the end of a decade-long saga.

The postponement of repayments and the massive BTC transfer revive uncertainties around Mt. Gox. In a sensitive market, any future action could weigh on the bitcoin price, still vulnerable to the slightest selling pressure related to this affair with still unpredictable repercussions.