Mt. Gox Explained: Collapse, Stolen Bitcoin and 2026 Repayment Status

Last Updated: November 2, 2026

Quick Answer: Mt. Gox, a Tokyo exchange that handled most of the world’s bitcoin trading in 2013, collapsed in February 2014 after reporting about 850,000 BTC missing, a shortfall later cut to about 650,000 BTC. Its court-appointed rehabilitation trustee has been repaying creditors in cash, bitcoin (BTC) and Bitcoin Cash (BCH) since 2023 and 2024.

The repayment deadline was October 31, 2026, but on October 16 the trustee moved it to October 31, 2027, with the court’s permission, because many creditors are still unpaid. Estate wallets held about 34,400 BTC on October 20, according to Arkham Intelligence data cited by Cointelegraph.

This page tracks where the case stands now; for the full story, see our Mt. Gox history and repayment timeline.

Key Takeaways

• The October 31, 2026 deadline was replaced on October 16 by October 31, 2027, the sixth change since January 2023
• The trustee says repayments are largely complete for creditors without procedural problems; more than 19,500 had been repaid in BTC and BCH by March 2025
• Estate wallets held about 34,400 BTC (about $2.7 billion) in late October 2026, about 24% of the 2018 holdings
• US prosecutors allege that at least about 647,000 BTC were stolen from 2011 to 2014; the 2023 charges remain allegations

Mt. Gox Repayment Status at a Glance

What Happened at the October 31, 2026 Repayment Deadline?

Nothing changed on the day itself, because the deadline had already moved. In an October 16, 2026 notice, the rehabilitation trustee, Nobuaki Kobayashi, set October 31, 2027, as the new deadline for the base, early lump-sum and intermediate repayments, with the court’s permission. He said these were largely complete for creditors who finished the procedures without problems, but many had not completed them and a considerable number had hit problems in the process.

The notice gives no count of unpaid creditors or coins left to distribute. It was still the trustee’s newest notice on November 2, and we found no reports in major outlets of distributions or large wallet transfers around October 31.

Mt. Gox Repayment and Payout: Who Has Been Paid?

In bankruptcy, creditors’ bitcoin claims were fixed in yen at 2014 prices, The Wall Street Journal reported in 2017. After creditors petitioned, the Tokyo District Court switched the case to civil rehabilitation in June 2018, allowing repayment in coins, and the plan became final in November 2021, according to the trustee.

Yen payments to creditors were reported from late 2023. The trustee said on July 5, 2024 that the first repayments in BTC and BCH had been made through designated exchanges; Bitbank and SBI VC Trade paid out first, followed by others including Kraken and Bitstamp, according to The Block.

On March 27, 2025, the trustee said more than 19,500 creditors had been repaid in BTC and BCH and that some were being paid in cash from sales of coins.

What Caused the Collapse of Mt. Gox and When Did It Happen?

Mt. Gox collapsed in February 2014. It halted bitcoin withdrawals on February 7, suspended trading on February 24 and filed for protection from creditors in Tokyo on February 28, according to the Associated Press and Reuters. The Tokyo District Court opened bankruptcy proceedings in April 2014.

The cause was a theft that ran for years, according to a 2023 Justice Department release: US prosecutors allege that hackers accessed the server holding Mt. Gox’s wallets from about September 2011 and moved coins out through at least May 2014. Former chief executive Mark Karpeles was not tried over the missing coins; in 2019 a Tokyo court convicted him of manipulating electronic data and acquitted him of embezzlement, according to the Associated Press.

How Many Bitcoins Were Stolen or Lost During the Mt. Gox Incident?

At bitcoin’s price of about $77,800 on November 2, 2026, according to CoinMarketCap, 850,000 BTC would be worth about $66.1 billion. For recent cases, see our list of the biggest crypto hacks of 2025, led by the $1.4 billion Bybit breach.

What Impact Has the Mt. Gox Collapse Had on the Crypto Market?

A price shock in 2014. Bitcoin fell from about $782 on February 6, 2014, the day before Mt. Gox halted withdrawals, to an intraday low of about $420 on February 25, about 46% lower, according to CoinMarketCap data.

New rules in Japan. A 2016 amendment to Japan’s Payment Services Act, in force from April 2017, required crypto exchanges to register and to keep customer assets separate and audited. The Tokyo law firm Anderson Mori & Tomotsune linked the bill to “the collapse of a leading bitcoin exchange in Japan.”

A repayment overhang. Transfers from the estate’s wallets are often read as possible selling. As repayments began, bitcoin fell about 14.5% from its July 1, 2024 close to a July 5 low, while German authorities were also selling seized coins, then ended July about 3% higher, according to CoinMarketCap data. Our guide on how to verify crypto news and rumors explains how to check such claims.

Lessons on custody. Mt. Gox customers became creditors in a process now lasting more than 12 years, one reason many holders keep savings in cold storage or other crypto wallets they control.

Are There Any Ongoing Legal or Financial Repercussions Related to Mt. Gox?

Yes. The rehabilitation case continues before the Tokyo District Court, with repayments now due by October 31, 2027. Other open matters:

• US charges over the theft: in June 2023, the Justice Department charged two Russian nationals with conspiracy to commit money laundering, alleging that they caused “the theft of at least approximately 647,000 bitcoins” from Mt. Gox. The charges are allegations, and the defendants are presumed innocent.
• Alexander Vinnik: a 2017 US indictment alleged that the BTC-e operator laundered funds from the Mt. Gox hack. He pleaded guilty in May 2024 to conspiracy to commit money laundering related to BTC-e (the Justice Department’s announcement does not mention Mt. Gox) and was freed in a US and Russia prisoner exchange in February 2025, according to the Associated Press.
• Funds in New Zealand: in a March 2023 notice, the trustee said a New Zealand court had restrained about NZ$140 million linked to Vinnik, that it intended to take part in the proceedings and that any return of funds was uncertain. We found no later notice on the outcome.

How to Check Messages About Mt. Gox Repayments

The trustee warned again on October 29, 2025 about fake websites and emails using the Mt. Gox name, including false claims that a repayment deadline had moved up. It uses only mtgox.com, claims.mtgox.com and material.mtgox.com, and sends email only from noandt.com, nagashima.com and mtgox.com addresses.

Nothing in this article is financial or legal advice. Creditors should rely only on notices published at mtgox.com.

Frequently Asked Questions

What is the current Mt. Gox repayment deadline?
October 31, 2027. The rehabilitation trustee, Nobuaki Kobayashi, moved it from October 31, 2026, in a notice dated October 16, 2026, with the court’s permission. It covers the base, early lump-sum and intermediate repayments. The trustee said many creditors had not completed the required procedures and others had run into problems during payment, and it did not say how many remain unpaid.

Has Mt. Gox paid back its creditors?
Mostly, according to the trustee. Cash payments were reported from late 2023, and repayments in bitcoin and Bitcoin Cash began in July 2024 through designated exchanges. By March 2025, more than 19,500 creditors had been repaid in crypto. The trustee says repayments are largely complete for creditors who finished the procedures without problems, while others are still waiting.

How many bitcoins were stolen from Mt. Gox?
Mt. Gox reported about 850,000 BTC missing when it filed for protection in February 2014, then found 199,999.99 BTC in an old wallet, leaving a shortfall of about 650,000 BTC. US prosecutors allege that hackers caused the theft of at least about 647,000 bitcoins between 2011 and 2014. At early November 2026 prices, 650,000 BTC would be worth about $50.5 billion.

How much bitcoin does Mt. Gox still hold?
Wallets attributed to the Mt. Gox estate held about 34,400 BTC on October 20, 2026, according to Arkham Intelligence data cited by Cointelegraph, worth about $2.7 billion at the November 2 price. That is about 24% of the 141,686 BTC the trustee reported in 2018. The trustee does not publish a running balance, and we found no reliable figure for its Bitcoin Cash.

Do Mt. Gox wallet transfers affect the bitcoin price?
They have sometimes coincided with price drops, but a transfer does not prove selling. In early July 2024, as repayments began, bitcoin fell about 14.5% in four days while German authorities were also selling seized coins, and it ended the month higher. Most large Mt. Gox transfers have gone to exchanges handling repayments, according to Arkham and news reports.

Are there ongoing legal cases related to Mt. Gox?
Yes. The rehabilitation case continues in Tokyo until repayments end. In 2023, US prosecutors charged two Russian nationals with money laundering conspiracy, alleging they caused the theft of at least about 647,000 bitcoins; the charges are unproven. BTC-e operator Alexander Vinnik pleaded guilty in 2024 to a money laundering conspiracy related to BTC-e. Former chief executive Mark Karpeles was convicted only of data manipulation.

Data sources: Mt. Gox rehabilitation trustee notices (mtgox.com), US Department of Justice releases, Arkham Intelligence data as reported by Cointelegraph, The Block and CoinDesk, CoinMarketCap (BTC prices), Anderson Mori & Tomotsune, and reporting by the Associated Press, Reuters and CNBC, as of November 2, 2026.