In February of 2014, Mt. Gox, once the world’s largest Bitcoin exchange, announced that it had lost 850,000 Bitcoins in a hack.
The hack, which Mt. Gox never fully explained, caused the collapse of the exchange and the loss of millions of dollars for customers.
The hack was a devastating blow to the Bitcoin community, which was already struggling to gain mainstream adoption. The loss of such a large amount of Bitcoins cast doubt on the security of the digital currency and made many people reluctant to use it.
In the years since the Mt. Gox hack, Bitcoin has slowly regained its footing. The price of Bitcoin has risen sharply in recent months, reaching an all-time high in December of 2017.
And while there are still concerns about the security of Bitcoin exchanges, the Mt. Gox hack does not seem to have deterred people from using the digital currency.