🧨 The Mt. Gox Collapse: The $450 Million Bitcoin Vanish That Shook the Crypto World

In 2014, one of the biggest scandals in crypto history unfolded when Mt. Gox — the largest Bitcoin exchange at the time — abruptly went offline. Over 850,000 BTC (worth around $450 million then, now over $50 billion) suddenly disappeared, leaving hundreds of thousands of users in shock.

📉 Based in Tokyo, Mt. Gox once handled over 70% of global Bitcoin trades. But internal mismanagement, lack of security, and suspected insider theft brought it to its knees. The CEO, Mark Karpelès, was arrested in 2015 and later convicted for falsifying records.

⏳ To this day, victims are still waiting for full compensation. The Mt. Gox story remains a cautionary tale about centralized platforms and the importance of transparency and security in the crypto space.

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