Incident reportExchange hackBitcoin
Mt. Gox −$450M
The original. Creditors waited a decade.
What happened
Mt. Gox handled most of the world's bitcoin trading when it stopped withdrawals and collapsed, saying about 850,000 BTC were gone. Around 200,000 were later found in an old wallet.
Timeline
Feb 7
Withdrawals are halted, blamed on a 'technical issue'.
Feb 24
The site goes offline.
Feb 28
Mt. Gox files for bankruptcy in Tokyo.
2024
Creditors finally start getting repaid.
Aftermath
Repayments began ten years later. Many creditors had long since given up.
Date2014-02-24
Lost$450M
WhoMostly external thieves over several years
Transaction malleability.
Lesson 'Temporarily paused withdrawals' is a sentence worth taking seriously.