Looking back at history, the market crashed 📉 and the market crashed 📉
In the long history of the cryptocurrency circle, those who have experienced the Mentougou, 94, 312, 519, and LUNA/FTX crashes are undoubtedly veteran investors in the cryptocurrency circle. Now, as another 519 is approaching, let us review the thrilling cryptocurrency tragedies.
Let's trace back to the Mentougou incident in February 2014, which is one of the most serious incidents in the history of the cryptocurrency circle. At that time, the world's largest Bitcoin exchange Mt.Gox was hacked, and nearly 850,000 Bitcoins were lost, accounting for about 7% of the total number of Bitcoins in the world. This incident not only caused the price of Bitcoin to plummet by 80%, but also triggered a crisis of confidence in the cryptocurrency market. However, ten years later, due to the sharp rise in Bitcoin prices and the judicial department's judgment of compensation in legal currency, the remaining Bitcoins after the liquidation of Mentougou are enough to compensate all the losses of the original creditors. Recently, there are reports that Mt.Gox is preparing to distribute about 142,000 Bitcoins (BTC) and 143,000 Bitcoin Cash (BCH) to creditors, with a total value of more than US$9 billion.