The ghost of Mt. Gox will stop haunting Bitcoin this Halloween
The exchange that once held Bitcoin’s fate in its hands is nearing its final act as repayments deadline closes in.
Mt. Gox, the defunct Tokyo-based cryptocurrency exchange, still holds around 34,689 Bitcoin (BTC) ahead of its Oct. 31 repayment deadline.
The exchange lost around 650,000 BTC in thefts that went undetected from 2011 until its 2014 collapse, while about 200,000 BTC was later found in an old-format wallet. Those coins became the foundation for creditor repayments overseen by court-appointed trustee Nobuaki Kobayashi.
In 2017 and 2018, Kobayashi earned the nickname “Tokyo Whale” for selling Mt. Gox Bitcoin to fund fiat repayments. In mid-2024, wallet activity surged again as roughly 100,000 BTC was moved between Mt. Gox addresses for distribution, though not all represented actual sales.
Breaking: Mt. Gox repayment deadline looms on Oct 31, 2025, with 34,689 BTC (approx $3.7B) still to be distributed. Market jitters rise as potential supply wave could impact Bitcoin prices
When did the collapse of Mt Gox happen? What it 2014? Do you know?
Yeah, the collapse of Mt. Gox happened in 2014. It was a massive blow to the crypto space at the time, with around 650,000 BTC lost to hacks over several years before they shut down
It was the first major blight on the industry. More than a decade later, it still hangs out there.
What was the exact date? Do you have that?
The exact date Mt. Gox halted withdrawals was February 7, 2014, marking the start of its collapse. Trading was suspended later on February 24, 2014, after years of undetected thefts.
I wonder how much of those funds were recovered. My guess it is a small amount compared to what was stolen.
Around 200,000 BTC were recovered after the collapse, out of the 650,000 lost. That’s a fraction, roughly 30%, though it’s worth billions now due to Bitcoin’s price surge. Creditors are finally seeing some returns after a decade-long wait