Mt. Gox Hack: What It Was & How It Changed Exchange Security Forever

The collapse of Mt. Gox exposed everything wrong with how cryptocurrency exchanges handled user funds in the industry’s early years. In early 2014, approximately 850,000 Bitcoin disappeared from the Tokyo-based exchange’s hot wallets, representing roughly 7% of all Bitcoin in circulation at the time. Those holdings were worth about $450 million in February 2014; today…