21 BTCMt. Gox (2014)
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In plain words
The largest exchange of its time stopped withdrawals and filed for bankruptcy; about 850,000 BTC were reported missing after years of undetected theft.
What happened
The largest exchange of its time stopped withdrawals and filed for bankruptcy; about 850,000 BTC were reported missing after years of undetected theft.
What happened to the coins
200,000 BTC were later found in an old wallet. The trustee began repaying creditors on 5 Jul 2024 (about 142,000 BTC owed).
From the Bitcoin Museum
Mt. Gox files for bankruptcy (28 Feb 2014): The largest exchange of its time stops withdrawals and files for bankruptcy protection in Japan; about 850,000 BTC are reported missing (200,000 later found). See Hacks & losses.
See also
- Hardware walletA hardware wallet is a small device that keeps your private keys offline and signs transactions inside itself. Even if your computer is infected, the keys never leave the device.
- Seed phraseA seed phrase is a list of 12 or 24 ordinary words that can recreate all the keys of a wallet. Whoever has the words has the bitcoin, so write them on paper or metal and never type them into a website.
- Proof of reservesAn exchange's attempt to show it holds the customer coins it owes.
- Hot / cold walletHot: keys on an internet-connected device. Cold: keys kept offline.
References
- en.wikipedia.org en.wikipedia.org
- cnbc.com cnbc.com