$BTC

Rise And Fall Of Mt. Gox

Mt. Gox was a Japanese Bitcoin exchange that went bust in 2014 after a massive hack. Once the largest exchange in the world, criminals successfully found a vulnerability and stole 850,000 Bitcoin BTC from users. However, despite the large amount of Bitcoin lost, law enforcement managed to recover just 140,000

BTC to repay creditors.

The exchange began repaying its debt in early July, sparking fears of mass selling by creditors who have waited for refunds for a decade.

Meanwhile, Bitcoin slipped to as low as $66,267 on the heels of the Mt. Gox transactions today, according to CoinGecko. The leading cryptocurrency by market value is currently valued at $66,583. That's 8.2% lower than the ever newer all-time high of $73,747 it set in March and slightly lower than its previous $69,044 record from 2021.