Mt. Gox creditors fail to set repayment date, but markets to remain unaffected
2022.09.08 08:27
Mt. Gox creditors fail to set repayment date, but markets to remain unaffected
Eight years ago, in 2014, the crypto world was rocked by the crippling hack of Mt. Gox, a popular Bitcoin (BTC) exchange, which was forced to shut down after miscreants were able to make away with approximately 850,000 BTC, worth more than $16 billion at today’s exchange rates.
At the time of the incident, the Tokyo-based exchange was the world’s largest cryptocurrency trading ecosystem, processing over 70% of the crypto market’s daily Bitcoin trading volume. However, due to its lack of quality security protocols, hackers were able to make their way with the crypto assets of over 24,000 customers, which is still one of the largest such incidents in the history of the digital asset industry.
