👀 Mt. What is Gox? The times Mt. Gox 'stormed' the crypto market

🚫  Mt. Gox was a Tokyo-based cryptocurrency exchange that operated from 2010 to 2014. During its peak, it was responsible for more than 70% of Bitcoin transactions in the entire market. 

⏳Market-shaking incidents of Mt. Gox

❗️The first hack

💰On June 13, 2011, the exchange reported about 25,000 BTC stolen from 478 accounts. Four days later, the user database of Mt. Gox leaked. On June 19, the Mt. Gox was attacked. Hackers change the price of BTC to 1 cent, buying more than 2,000 Bitcoins. 

⚠️ Second hacking incident

🔊Mt. Gox shocked the market when it said hackers had stolen about 750,000 Bitcoins from customers and 100,000 Bitcoins from the company. This is a consequence of the unencrypted private key being leaked from the 2011 hack. 

🕵️The climax of the incident was that the exchange stopped all activities on February 7, 2014 with the reason of suspension for investigation. On February 28, 2014, the exchange filed for bankruptcy protection in Japan. 

💡Mt. Gox returns assets to victims 

🚨After 10 years since the market-shaking crash, Mt. Gox once again worried the community when it announced plans to return billions of dollars worth of tokens to users. Bitcoin price reacted negatively and quickly adjusted down to $59,000.

💳Continuous transactions of Mt. Gox on July 4 and 5 accompanied by new BTC lows. The exchange also officially announced the refund of BTC and BCH to users. BTC dropped to the $53,000 area and only recovered slightly around the $54,000 mark.

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