Based in Tokyo and handling 70%+ of global BTC trading at its peak, Mt.Gox's collapse erased ~7% of all BTC ever mined. The loss is attributed to years of undetected exchange theft. Creditors only began receiving partial distributions in 2024 — a decade later. The collapse taught the industry its most expensive lesson: 'not your keys, not your coins'.
attack·February 24, 2014
Mt.Gox Collapse
The largest Bitcoin exchange of its era halts withdrawals, files bankruptcy. 850,000 BTC lost.