What happened with the Mt. Gox hack?

Asked 2 years ago

Hi, I noticed that approximately 3 or 4 years ago there was a huge hack and many lost their bitcoins. What happened? Why is this bitcoin hack so significant when there are so many other crypto protocol hacks that happen? Did this hacker ever get offered a bounty?

Bitcoin Mt. gox hack

Filip Dimkovski

Sunday, September 18, 2022

The Mt. Gox happened in 2014, and users that had their Bitcoin stored on the platform lost a total of 740,000 BTC. After the attack, Mt. Gox closed its website and went totally silent for a few years. In 2022, however, they announced that they would return the stolen BTC to the users, but as of September 2022, it hasn't happened yet.
Keep in mind that this wasn't a hack on Bitcoin - it was an attack on the Mt. Gox platform. Bitcoin has never had a cyberattack, as the network is incredibly secure. Some cryptocurrencies that offer a lot of features (like Solana) are susceptible to attacks, as hackers find a way to abuse the features. 