The First Major Crypto Disaster ๐ดโโ ๏ธLargest bitcoin Exchange Mt. Gox Hack (2014)!!!!!
๐น What Happened?
In 2014, Mt. Gox, the largest Bitcoin exchange at the time, was hacked, leading to the theft of 850,000 BTCโworth $450 million back then. Today, thatโs worth over $20 billion!
๐น The Fallout
The hack led to the collapse of Mt. Gox, with thousands of investors losing their funds. It exposed the vulnerabilities in crypto exchanges and highlighted the need for better security.
๐น Lessons Learned
This incident taught the crypto world the importance of cold storage wallets and robust security protocols to protect digital assets.
๐ฌ Do you think crypto exchanges have become safer since then? Letโs discuss below! ๐
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