The Tale of Mt. Gox (How 850,000 Bitcoins Were Lost)

The moment that would change the history of Mt. Gox came without so much as a beep. Mark Karpelès, the CEO of what until recently had been the world's biggest Bitcoin exchange, was finally alone, save for his tabby cat, in his palatial penthouse with a panoramic view of Tokyo.

It was the evening of March 7, 2014, and Karpelès had barely slept in the week since Mt. Gox had sought bankruptcy protection, announcing that 850,000 of its Bitcoins, worth some $473 million at the time—and representing 7% of all Bitcoins in existence then—had somehow disappeared.

But how did it happen? Let’s find out…

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RugDoc is a DeFi community-centric team with a mission to create a safer environment in cryptocurrency and Decentralized Finance. The information contained herein is for informational purposes only. We are NOT financial advisors and this is NOT financial advice, so please do your own research before investing in any project.

[mportman]

Good video. It’s pronounced “lit-igation” fyi

[smatterband]

Only 5.6k subs? You are as underappreciated as #FTM. 😢

[Rathkc-jo]

Thats funny that Larry David is in this video.

[stevensmith]

Interesting the reasons given for going under are the same ones for FTX. Hmmm