Forgotten company that lost 850k bitcoin

September 24, 2023

Dear Reader,

At its peak, it facilitated up to 80% of bitcoin transactions.

Making it the largest bitcoin exchange in the world.

With a massive influence over bitcoin's market activity.

Then "it" happened.

In February of 2014, Mt. Gox suffered a "fatal blow".

The exchange found suspicious activity.

Digital wallets had been compromised by hackers.

An estimated 850,000 bitcoins were stolen or maybe lost.

Either way, hundreds of millions of dollars went missing.

Destabilizing the cryptocurrency market.

Plunging Mt. Gox into insolvency and eventual bankruptcy.

A decade later, arrangements were made to pay back the exchange's creditors.

But not for yet another year.

Mt. Gox trustee Nobuaki Kobayashi…

Pushed the deadline for repayment back to October 31, 2024.

We've come a long way since the Mt. Gox days.

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Regards,

Max K.
Markets Pro Team