Mt. Gox Postpones Payment Deadline to 2025, Easing Concerns Over Bitcoin Selling Pressure

Cryptocurrency wallets linked to the defunct exchanges still hold $2.8 billion worth of bitcoin after distributing around $6 billion in assets to creditors earlier this year.

The trustee managing Mt. Gox’s assets has postponed the deadline for distributing the remaining assets to creditors by one year to Oct. 31, 2025, according to a Thursday statement posted on Mt. Gox’s website.

Mt. Gox, once the largest cryptocurrency exchange before it collapsed due to a hack in 2014, began repaying nearly $9 billion of recovered assets to creditors in July this year after many years of delays. However, cryptocurrency wallets linked to Mt. Gox still contain 44,900 bitcoins (BTC) worth $2.8 billion, data from Arkham Intelligence shows.

“Many rehabilitation creditors have not yet received their refunds because they have not completed the necessary procedures,” the Mt. Gox trustee’s statement said. “A considerable number of rehabilitation creditors have not received their refunds due to various reasons, such as issues arising during the refund process.”

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