Mt. Gox was a Tokyo-based largest cryptocurrency exchange of the world, that operated between 2010 and 2014. It was responsible for more than 70% of Bitcoin transactions at its peak.
In 2014, Mt. Gox was hacked, and thousands of Bitcoins were stolen; the company filed for bankruptcy shortly thereafter.
In late 2021, creditors and the Tokyo District Court reached an agreement on the Mt. Gox rehabilitation plan, closing a seven-and-a-half-year legal battle.
Now after 10 years Mt. Gox exchange is recovered which is making payments to it's affectees. The effectees of exchange are selling bitcoins in panic. As per some affectees at that time $BTC price was round about 300$. When Mt. Gox suddenly hacked and round about 65000 to 80000$BTC were stolen.
Now due to selling pressure market is going down.
