The original video game is based on the 1995 movie of the same name starring Pierce Brosnan as 007, and according to GamesBeat's Jeff Grubb the war in Ukraine is the reason behind the lack of updates.
Responding to a Twitter user asking where the game is, he replied: "Goldeneye is still in limbo because of the war. 1 v 100's team lead left Microsoft. I don't know what that means for the game."
The film is set in Russia, the country invading Ukraine.
The original game was released in 1997 and an updated version for the Xbox was due to be released in the late 2000s.
However, that plan never came to fruition because of a dispute over the rights.
Last year, the sought-after remake leaked on the internet and games designer David Doak, who worked on the original hit, was delighted to see it "out in the wild".
Speaking to the BBC, David said: "It is always heart-warming to see that the original game is still so fondly remembered and has obviously brought joy to so many people over almost 25 years since release.
"The current excitement over the leak of this 'naughty remaster' speaks volumes for the impact and enduring legacy of GoldenEye 007."
Composer Grant Kirkhope previously discussed why the game didn't come out when it was originally supposed to.
He told Video Games Chronicle: "The main reason it didn't happen was because there were too many stakeholders. Microsoft, Nintendo and Eon could never agree on terms, and that's before you even start to consider getting all the original movie actors to agree to have their likenesses used again."
Microsoft hasn't officially announced the remake, so all is to be taken with a pinch of salt.
Whether or not it has been shelved or they are just waiting for an appropriate time to release it remains unknown at this time.