Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2010, it was handling over 70% of all bitcoin (BTC) buys/sells worldwide


Mt. Gox, once the largest bitcoin exchange in the world, closed in 2014 after it was revealed that it had lost hundreds of thousands of bitcoin in a hack. Creditors have since awaited the repayment of their holdings - one that is largely considered to add selling pressure to BTC markets

It was initially a way for enthusiasts of the card game "Magic: The Gathering" to trade cards online. The name Mt. Gox was created as an acronym for "Magic: The Gathering Online Exchange." The site was transferred to Mark Karpeles in 2011 in exchange for six months' worth of revenue.


A leaked alleged internal crisis management document claimed that the company was insolvent, after having lost 744,408 bitcoins in a theft which went undetected for years. Six other major bitcoin exchanges released a joint statement distancing themselves from Mt. Gox, shortly before Mt. Gox's website went offline.

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