Crypto Terror: True Stories from the Dark Side of Cryptocurrencies

1. The Ghost of Mt. Gox

In 2014, Mt. Gox was the largest exchange in the world. But one day, like in a financial horror story, everything collapsed: 850,000 BTC disappeared. Users could not access their funds, and the founder, Mark Karpelès, became the center of a global scandal. To this day, most of those bitcoins have never been recovered.

2. The Cursed Wallets

Imagine having hundreds of millions of dollars... but being unable to access them. That happened to Stefan Thomas, who has a wallet with 7,000 BTC and only two attempts left to guess the password before it gets locked forever.

Every year, thousands of bitcoins remain trapped in inaccessible wallets. It's like a digital graveyard of lost fortunes.

3. QuadrigaCX: Scam or Faked Death?

Gerald Cotten, founder of the Canadian exchange QuadrigaCX, suddenly died in India in 2018, taking with him the private keys to over 190 million dollars in crypto assets.

The strange part: there is no clear evidence of his death, and some believe he faked his demise to escape with the money. Netflix even made a documentary titled “Trust No One.”

4. The Killer Code: The Cursed Smart Contracts

In 2016, an exploit in “The DAO,” a decentralized autonomous organization, allowed a hacker to siphon off more than 50 million dollars.

The most disturbing part is that the code wasn't poorly written; it worked exactly as programmed. The Ethereum network had to split into two to repair the damage, creating a fork (Ethereum and Ethereum Classic). Like a digital monster leaving an irreversible scar.

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