Mt. Gox has once again pushed back its long-awaited repayment deadline, extending it to October 31, 2026—two years beyond the initial target. The decision, announced by Rehabilitation Trustee Nobuaki Kobayashi on Monday, marks the third extension since the exchange’s collapse in 2014, when it lost around 850,000 BTC in what remains one of the most infamous hacks in crypto history. The new deadline replaces the previous October 31, 2025, schedule, just days before it was set to expire.
Kobayashi explained that while repayments have been partially completed for creditors who met all procedural requirements, a substantial number still have not received their funds due to incomplete verifications or technical issues. In his statement, he said it was “desirable to make repayments to such rehabilitation creditors to the extent reasonably practicable,” emphasising that the court had granted permission for another one-year extension.
The Tokyo-based exchange was once the largest Bitcoin trading platform in the world, handling over 70% of global transactions at its peak before its sudden collapse in early 2014. The massive breach, which drained 850,000 BTC, sent shockwaves through the nascent crypto industry and became a defining event that highlighted the need for greater security and regulation in digital-asset exchanges.
Since entering bankruptcy proceedings, Mt. Gox’s rehabilitation process has been slow and complex. The trustee announced in 2023 that roughly 142,000 BTC, 143,000 Bitcoin Cash (BCH), and about 69 billion Japanese yen (approximately $510 million) had been recovered for distribution. Repayments began in mid-2024 through selected exchanges such as Kraken and Bitstamp, and by March 2025, around 19,500 creditors had finally received partial payments in BTC and BCH.
However, thousands remain unpaid. Many creditors encountered technical difficulties, documentation errors, or delays in verification. The trustee confirmed that repayments will continue “as reasonably practicable,” depending on court approval and completion of pending cases. According to data from blockchain analytics firm Arkham, Mt. Gox still holds about 34,689 BTC, worth nearly $4 billion, which will likely be distributed once these issues are resolved.
Creditors are encouraged to track progress or submit queries through the Mt. Gox Online Rehabilitation Claim Filing System. Yet the trustee cautioned that response times may be slow due to high inquiry volumes.
With this latest extension, the repayment saga now stretches into its twelfth year, leaving many investors frustrated and still waiting for closure. Despite progress in asset recovery, the drawn-out process reflects the enduring challenges of handling one of crypto’s oldest and most consequential collapses.
