The $450 Million Mt. Gox Collapse That Shook the Crypto World
In 2014, Mt. Gox — the largest Bitcoin exchange at the time — suddenly went offline. Over 850,000 BTC, worth around $450 million then (now tens of billions), had mysteriously vanished.
💥 Based in Tokyo, Mt. Gox handled over 70% of all Bitcoin transactions globally. But behind the scenes, poor security, mismanagement, and suspected insider theft were slowly draining the exchange.
👨⚖️ CEO Mark Karpelès was arrested and later convicted for falsifying records, though not theft. Victims have waited nearly a decade for partial reimbursements.
💡 The Mt. Gox disaster was crypto’s first “Lehman Brothers moment” — and a powerful lesson in why self-custody and transparency matter in a decentralized future.
🏷️ #MtGox
