Bitcoin Mt Gox
About Bitcoin Mt Gox
Mt. Gox was the largest Bitcoin exchange in the world, handling over 70 percent of all Bitcoin trades. In February 2014, it suspended withdrawals and filed for bankruptcy, revealing that 850,000 Bitcoins worth 450 million had been stolen through a long running hack. CEO Mark Karpeles was arrested by Japanese authorities. The theft represented about 7 percent of all Bitcoins in existence. Some stolen Bitcoins were later traced and 200,000 were recovered. The Mt. Gox collapse was the first major cryptocurrency exchange failure and damaged Bitcoin credibility for years. Creditors are still litigating recoveries as of 2025, while Bitcoin values multiplied enormously.
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