Imagine a world where the biggest Bitcoin exchange in the 2010s, Mt. Gox, stood as the shining beacon of cryptocurrency. âŹď¸
That is, until a pesky little software glitch decided to crash the party. This error created transactions that were forever out of reach, costing the exchange up to $1.5 million in lost bitcoinsâtalk about a digital disaster!
But wait, the drama doesnât end there!
In 2014, Mt. Gox faced its nemesis when hackers swooped in, making off with over 850,000 bitcoins.
At the time, that was worth about half a billion dollarsâyes, with a âbâ! Although around 200,000 bitcoins were eventually recovered, the rest vanished into the digital ether, leaving the exchange in a tailspin.
Ultimately, Mt. Gox was forced to declare bankruptcy, reminding us all that in the wild west of cryptocurrency, fortunes can flip faster than you can say âblockchain.â 0 reply
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