Defunct bitcoin exchange Mt. Gox moved 10,422.65 bitcoin worth roughly $739 million to a new wallet on Tuesday, marking the largest single transfer in months and its most significant move ahead of the October 31, 2026 deadline to complete creditor repayments.

The transaction, recorded on Bitcoin block 952,072 at 04:47 UTC, sent 10,306.35 BTC ($730.78 million) to a previously unseen address, while a smaller 116.30 BTC ($8.25 million) slice was routed to Mt. Gox's known hot wallet, according to data from Arkham Intelligence. The split pattern mirrors earlier administrative transfers that preceded creditor distributions, though none of the coins has yet been forwarded to a custody provider or exchange.

Mt. Gox still holds roughly 34,504 BTC valued at $2.43 billion, the largest unresolved holding tied to any failed cryptocurrency exchange. Repayments officially began in mid-2024, and around 19,500 creditors have received funds, though trustee Nobuaki Kobayashi has pushed back the final deadline twice. The most recent extension, approved by a Tokyo court in October 2025, moved the deadline from October 31, 2025 to October 31, 2026, citing incomplete creditor procedures and pending processing issues.

The movement comes during a sharp Bitcoin slide that has taken BTC below $71,000 for the first time in weeks. The broader market decline has been compounded by Strategy's first publicized Bitcoin sale, a record 10-session spot ETF outflow streak, and stalled geopolitical negotiations weighing on investor sentiment.

Mt. Gox creditor coins were largely acquired before the exchange's 2014 collapse, meaning any distribution would meet sellers ready to realize substantial gains at current prices. Market participants have long flagged the potential for selling pressure once creditors receive their long-awaited payouts, given the significant appreciation in Bitcoin's value since the exchange's insolvency.

The latest transfer underscores the ongoing complexity of the Mt. Gox repayment process, which has stretched over a decade since the exchange filed for bankruptcy protection. With the October 2026 deadline approaching and billions of dollars in Bitcoin still awaiting distribution, the crypto market will continue to monitor each wallet movement closely for signs of imminent creditor payouts.