The cryptocurrency exchange Mt. Gox has once again delayed its creditor repayment timeline, marking its second change to the timeline.

The History of Mt. Gox

Mt. Gox was once the largest crypto exchange, handling around 70% of all Bitcoin transactions until 2014. It fell due to a major hack, which led to the loss of approximately 850,000 Bitcoin.

Reasons for the Latest Delay

The repayment deadline has been pushed back to October 31, 2025. This decision was approved by the court to ensure the smoothest possible process for repaying creditors. The delay is caused by creditors not completing necessary procedures and complications in the repayment process itself.

Consequences and Market Reaction

In July, the exchange began distributing around $9 billion in recovered assets to creditors, but it still retains approximately 44,905 Bitcoin, valued at around $2.8 billion according to Arkham Intelligence. The recent delay may spark further discussion among market participants, as it complicates the finalization of the obligations to creditors.

The postponement of repayment timelines highlights the ongoing complexity of the Mt. Gox collapse consequences for the crypto market, remaining a significant topic for creditors and industry participants.