Share this article
Mt Gox: The History of a Failed Bitcoin Exchange
The arrest of Mt Gox CEO Mark Karpeles on Saturday is the latest twist in a lengthy plot surrounding the now-defunct bitcoin exchange.
Updated Sep 11, 2021, 11:48 a.m. Published Aug 4, 2015, 5:46 p.m.
Make us preferred on Google
The arrest of Mt Gox CEO Mark Karpeles on Saturday is the latest twist in a lengthy plot surrounding the now-defunct bitcoin exchange.
Arrested in Japan over allegations he manipulated Mt Gox's volumes prior to its demise in 2014, Karpeles' detention has captivated worldwide attention.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Credited with being one of the world's first bitcoin exchanges – accounting for up to 80% of trading volume during its peak – Mt Gox first launched in the summer of 2010 and suspended operations in February 2014 amid heightened speculation about potential untoward activity.
Speculation about what really happened at the exchange has been rife since its collapse, with recent events representing a change in narrative.
Whereas questions initially arose about the possibility of an outside job or hack, the latest developments suggest the loss of $350m worth of bitcoin may have been due to suspicious activity within the exchange.
Here's an interactive timeline of the key events surrounding Mt Gox:
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
