Gox: 10 Years Later
What Happened?
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2010, it was handling over 70% of all Bitcoin (BTC) buys and sells worldwide by 2014.
Collapse
On February 24, 2014, Mt. Gox suspended trading and filed for bankruptcy protection. The company claimed that 850,000 bitcoins belonging to customers and the company had been stolen. This represented around 7% of all bitcoins in circulation at the time.
What We Still Don't Know
Ten years after the collapse of Mt. Gox, many questions remain unanswered. How did the hack happen? Who was responsible? And what happened to the stolen bitcoins?
The collapse of Mt. Gox had a profound impact on the cryptocurrency industry. It led to a loss of trust in bitcoin and other cryptocurrencies, and it highlighted the need for stronger regulation.
Despite the unanswered questions, the collapse of Mt. Gox remains one of the most significant events in the history of bitcoin. It is a reminder of the risks involved in investing in cryptocurrencies, and it highlights the need for continued vigilance in the face of fraud and theft.
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