The First Mt. GOX Hack
- Centralized Exchange
On June 19th, 2011, a security breach of the Mt. Gox bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. Gox auditor's compromised computer illegally to fabricate a large number of bitcoins for himself.
Incident Details
- Type
- EXCHANGE HACK
- Funds Lost
- $8.8M
- Status
- Partial recovery
Exchange briefly suspended trading and eventually restored prices.