Mt. Gox

Mt. Gox
TypeBitcoin exchange
LocationShibuya, Tokyo, Japan
Founded2010 (2010)
Closed2014
OwnerTibanne Ltd.
CurrencyBitcoin
Websitewww.mtgox.com

Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan.[1] Launched in 2010, it was handling over 70% of all bitcoin (BTC) buys/sells worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the loss/theft of hundreds of thousands of bitcoins, then worth hundreds of millions in US dollars.[2][3][4][5][6][7]

In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors.[8][9] In April 2014, the company began liquidation proceedings.[10] Although 200,000 bitcoins have since been "found", the reasons for the disappearance—theft, fraud, mismanagement, or a combination of these—were initially unclear. New evidence presented in April 2015 by Tokyo security company WizSec led them to conclude that "most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot cryptocurrency wallet over time, beginning in late 2011."[11][12]

  1. ^ Ogun, M. N. (8 October 2015). Terrorist Use of Cyberspace and Cyber Terrorism: New Challenges and Responses. IOS Press. ISBN 9781614995289. Retrieved 9 December 2017 – via Google Books.
  2. ^ Vigna, Paul (25 February 2014). "5 things about Mt. Gox's crisis". The Wall Street Journal. Archived from the original on 24 March 2021. Retrieved 31 January 2021.
  3. ^ Frunza, Marius-Cristian (9 December 2015). Solving Modern Crime in Financial Markets: Analytics and Case Studies. Academic Press. ISBN 9780128045329. Retrieved 9 December 2017 – via Google Books.
  4. ^ Ito, Joi; Howe, Jeff (6 December 2016). Whiplash: How to Survive Our Faster Future. Grand Central Publishing. ISBN 9781455544585. Retrieved 9 December 2017 – via Google Books.
  5. ^ Kutylowski, Miroslaw; Vaidya, Jaideep (15 August 2014). Computer Security - ESORICS 2014: 19th European Symposium on Research in Computer Security, Wroclaw, Poland, September 7–11, 2014. Proceedings. Springer. ISBN 9783319112121. Retrieved 9 December 2017 – via Google Books.
  6. ^ Abrams, Rachel; Popper, Nathaniel (25 February 2014). "Trading Site Failure Stirs Ire and Hope for Bitcoin". The New York Times. Archived from the original on 7 December 2017. Retrieved 5 March 2017.
  7. ^ Cite error: The named reference Bloomberg28 was invoked but never defined (see the help page).
  8. ^ McLannahan, Ben (28 February 2014). "Bitcoin exchange Mt Gox files for bankruptcy protection". Financial Times. Archived from the original on 3 April 2022. Retrieved 6 March 2014.
  9. ^ Abrams, Rachel; Goldstein, Matthew; Tabuchi, Hiroko (28 February 2014). "Erosion of Faith Was Death Knell for Mt. Gox". The New York Times. Archived from the original on 14 September 2018. Retrieved 5 March 2017.
  10. ^ "Mt. Gox abandons rebuilding plans and files for liquidation: WSJ". Theverge.com. 16 April 2014. Archived from the original on 18 August 2019. Retrieved 9 December 2017.
  11. ^ Nilsson, Kim (19 April 2015). "The missing MtGox bitcoins". Archived from the original on 19 April 2015. Retrieved 10 December 2015. Most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot wallet over time, beginning in late 2011
  12. ^ Popper, Nathaniel (25 May 2016). "Mt. Gox Creditors Seek Trillions Where There Are Only Millions". The New York Times. Archived from the original on 10 February 2019. Retrieved 9 December 2017.