How many bitcoins were lost in the Mentougou incident?
The number of bitcoins lost in the Mentougou incident was initially estimated to be about 850,000. The incident occurred in 2014, when Mt. Gox was the world's largest bitcoin exchange.
Due to the hacker attack, the exchange lost a large number of bitcoins, including user deposits and the exchange's own reserves. After the incident, Mt. Gox declared bankruptcy and disclosed the number of lost bitcoins in the subsequent legal proceedings.
Although some bitcoins were later recovered, the total amount of losses is still very large.
What specific impacts did the Mentougou incident have on the cryptocurrency market?
Market trust crisis: The Mentougou incident exposed the security risks of centralized exchanges, resulting in a significant decline in investors' trust in cryptocurrency exchanges.
This prompted many investors to turn to safer self-custody methods, such as hardware wallets, to reduce the risk of asset theft.
Price volatility: After the incident, the price of Bitcoin experienced violent fluctuations, plummeting in the short term and showing a restorative growth in the long term.
This incident taught market participants that cryptocurrency prices can fluctuate dramatically due to a single event.
Strengthened regulation: After the Mentougou incident, governments and regulators began to strengthen regulation of the cryptocurrency market to prevent similar incidents from happening again.
This includes compliance requirements for exchanges, anti-money laundering measures, and the formulation of investor protection policies.
Market maturity: Over time, the cryptocurrency market has gradually matured, and more security measures and technologies have been introduced, improving the stability and transparency of the entire market.
With the current maturity of the market, billions and tens of billions can cause market fluctuations, but they do not affect the overall trend, so don't panic
