💣 The Mt. Gox Hack — The Biggest Bitcoin Theft in History
In 2014, the Tokyo-based exchange Mt. Gox, which once handled over 70% of all Bitcoin transactions worldwide, collapsed after it was revealed that hackers had stolen about 850,000 BTC.
At the time, this was worth around $450 million — today, it would be worth tens of billions of dollars.
The incident shook the entire crypto industry:
🌐 Thousands of users lost their life savings overnight
📉 Bitcoin’s price crashed by more than 50%
⚖️ Legal battles and bankruptcy proceedings dragged on for years
🛡️ It led to much stronger regulations and exchange security measures worldwide
💡 Even today, many of the lost Bitcoins have never been recovered, and Mt. Gox remains a reminder of the risks of storing large amounts of crypto on centralized exchanges.
This hack changed crypto forever — and made many investors realize the importance of “Not your keys, not your coins.” 🔑
