Mt Gox

Mt. Gox was a prominent Bitcoin exchange based in Tokyo, Japan, founded by Jed McCaleb in 2010. It played a significant role in the early cryptocurrency ecosystem, serving as a major platform for buying and selling Bitcoin. However, in 2014, Mt. Gox filed for bankruptcy and reported the loss of approximately 850,000 Bitcoins belonging to its users, citing security breaches and theft. This event was one of the largest and most infamous cryptocurrency exchange collapses, leading to legal proceedings and significant regulatory changes in the cryptocurrency industry.