Mt. Gox customers to receive crypto assets after 10-year wait

Markets are holding relatively steady despite the supply shock

July 24, 2024 04:38 pm

Artwork by Crystal Le

Repayments to the customers of Mt. Gox are set to begin after a decade-long court process.

Tokyo-based Mt. Gox once processed more than 70% of all BTC transactions at its peak before collapsing in 2014 after the loss of 950,000 BTC. Bitcoin was worth just $600 at the time.

About 20,658 customers will receive a portion of their lost assets this month, estimated at over $9 billion worth of BTC, BCH and ETH today.

Newsletter

Subscribe to The Breakdown

The repayment process is planned to begin with BTC and BCH repayments first, according to Mt. Gox’s rehabilitation trustee.

Kraken CEO David Ripley announced the successful redistribution of Mt. Gox BTC and BCH to creditors yesterday. A sum of 48,641 BTC was sent to an address suspected to be a Kraken wallet on July 16.

Loading Tweet..

Bitstamp has publicly confirmed receiving funds and began redistributing Mt. Gox assets back to non-UK creditors.

Loading Tweet..

Arkham Intelligence data first showed that the European-based exchange received on Monday 1,980 BTC and 382,377 BTC in two separate transactions, followed by another 1,979 BTC and 382 BTC yesterday.

Despite long-standing fears of a supply overhang, prices of both assets are holding steady on the news. BTC is up 0.3% to $66,064, while BCH has seen a slight decline of 0.3% to $366.

Based on Arkham’s data, Mt. Gox still holds about 90,344 BTC ($5.77 billion), about 64% of the original 140,000 BTC recovered by law enforcement.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens