Mt. Gox Pushes Its Repayment Deadline to October 2027 in Fourth Extension

The trustee of Mt. Gox has moved the deadline for completing creditor repayments from October 31, 2026 to October 31, 2027, Japan Standard Time. The change, made with court permission, is set out in a notice dated October 16 from rehabilitation trustee Nobuaki Kobayashi.

The notice covers the three repayment tracks that make up the rehabilitation plan: the Base Repayment, the Early Lump-Sum Repayment and the Intermediate Repayment. The trustee says those payments are largely complete for creditors who finished the required procedures and hit no problems along the way. Two groups remain unpaid, according to the notice. Many creditors have not completed the procedures needed to receive money, and a considerable number were not paid because of issues that arose during the repayment process.

The trustee's reasoning is that it is desirable to pay those creditors to the extent reasonably practicable, which requires more time. The notice changes only the date. It does not say how much is still owed, which assets remain, or when further distributions will run. Creditors with questions are directed to the claims portal, with a warning that heavy inquiry volume may slow replies.

This is the fourth time the deadline has moved. The original date was October 31, 2023, and it has slid by a year each autumn since. The 2025 extension was announced on October 27, four days before the cutoff. This one came about two weeks ahead of it.

The scale of the original plan explains why the market keeps watching. A repayment plan disclosed in September 2023 covered about 142,000 BTC, about 143,000 BCH and roughly 69 billion yen in cash. By the trustee's March 2025 update, about 19,500 creditors had been repaid in bitcoin and bitcoin cash. Arkham Intelligence's September 30 count put the estate's labelled wallets at 34,387 BTC, worth about $2.9 billion at the time.

In January 2024, creditors reported emails confirming their bitcoin addresses ahead of payouts. In May, the estate moved more than 140,000 BTC to a single new wallet, and the next month we covered bitcoin slipping as repayments neared.

The payouts themselves ran through designated exchanges. In July 2024, bitcoin slid under $55,000 as the estate moved $2.7 billion from cold storage, and by month's end the trustee had paid more than 17,000 creditors through Bitbank, Kraken, Bitstamp and SBI VC Trade, as Blockhead reported when the estate shifted another $2 billion to a new address. By the time of a test transaction in August, the estate's addresses held about 46,000 BTC, down from 141,000.

A wallet movement has never been a sale, and the estate has moved coins between its own addresses several times since. What the traders watch is the date. A deadline a year further out removes the nearest reason to expect a large distribution, which is why earlier extensions were read as easing sell pressure.

Bitcoin trades between $80,000 and $85,000, and Blockhead's latest market outlook describes a market pinned in that range with ETF flows turning negative and the Federal Reserve meeting on October 28. About $2.9 billion of estate bitcoin is small next to those flows, but it is the supply the market has been waiting on since 2014.

For creditors who have not finished the procedures, the extra year is a chance to be paid. The trustee has now given it to them four times.