In the nascent stages of the cryptocurrency sphere, Mt. Gox reigned supreme as the leading bitcoin exchange platform worldwide. It held the reins to over 70% of all transactions involving bitcoin during its formative years. However, the year 2014 saw the digital fortress of this platform crumble when hackers infiltrated its system. The cyber attack led to a loss of approximately 740,000 bitcoin, valued at over $15 billion in today’s market. This event marked the most significant of the numerous breaches that the exchange endured between 2010 and 2013.

This incident underscores the need for robust security measures in the digital currency world, particularly for those seeking to invest. However, while it’s important for potential investors to be aware, the central focus of this discourse is not investment advice, but rather, an exploration of the historical events that shaped the cryptocurrency landscape.