#MtGoxJulyRepayments Mt. Gox’s mysterious 850,000 BTC vanishing act

Mt. Gox — the largest Bitcoin exchange in the world at the time — declared bankruptcy in 2014 after a hacker stole 850,000 BTC, estimated to be worth $450 million at the time. The catastrophic collapse, veiled in intrigue, sent shockwaves throughout the crypto community, making investors and enthusiasts fearful and hopeless.

The unexplained circumstances surrounding the loss further added mystery to the story of Mt. Gox’s collapse. For a very long time, it was unknown exactly how the Bitcoin was stolen and who was behind the hack. The incident sparked investigations, legal disputes and rampant speculation within the crypto community.

On Oct. 9, the United States Justice Department charged Russian nationals Alexey Bilyuchenko and Aleksandr Verner with laundering around 647,000 BTC from the Mt. Gox hack. Bilyuchenko is also charged with operating the illicit exchange BTC-e from 2011 to 2017.

Almost 10 years later, the victims of Mt. Gox are still waiting for compensation.