Mt. Gox

lost by Mt. GoxMtGox
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan.wikipedia
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Bitcoin

bitcoinsbitcoin walletBitcoin blockchain
Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin (BTC) transactions worldwide, as the largest bitcoin intermediary and the world's leading bitcoin exchange.
The Mt. Gox exchange briefly halted bitcoin deposits and the price dropped by 23% to $37 before recovering to previous level of approximately $48 in the following hours.

Jed McCaleb

In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet1, Ripple, Stellar) thought of building a website for users of the Magic: The Gathering Online fantasy-based card game service, to let them trade "Magic: The Gathering Online" cards like stocks.
McCaleb is also known for creating the bitcoin exchange Mt. Gox and the peer-to-peer eDonkey and Overnet networks as well as the eDonkey2000 application.

Stellar (payment network)

StellarStellar LumenStellar Network
In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet1, Ripple, Stellar) thought of building a website for users of the Magic: The Gathering Online fantasy-based card game service, to let them trade "Magic: The Gathering Online" cards like stocks.
In 2014, Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim.

Mark Karpelès

McCaleb sold the site to French developer Mark Karpelès, who was living in Japan, in March 2011, saying "to really make mtgox what it has the potential to be would require more time than I have right now. So I’ve decided to pass the torch to someone better able to take the site to the next level."
Mark Marie Robert Karpelès (born June 1, 1985), also sometimes known by his online alias MagicalTux, is the former CEO of bitcoin exchange Mt. Gox.

Kraken (company)

KrakenKraken cryptocurrency exchangeKraken exchange
In a 6 Jan 2015 interview, Kraken bitcoin exchange CEO Jesse Powell discussed being appointed by the bankruptcy trustee to assist in processing claims by the 127,000 creditors of Mt. Gox.
In 2011, before Kraken was founded, Jesse Powell visited the Japan-based offices of what was then the largest bitcoin exchange, Mt. Gox, to offer assistance after the first of two major hacks, approximately three years before the final hacking incident that would eventually shutter Mt. Gox.

Bitcoin Foundation

On 23 February 2014, Mt. Gox CEO Mark Karpelès resigned from the board of the Bitcoin Foundation.
In February 2014 Mark Karpeles, then CEO of the Mt. Gox exchange, resigned from the board after Mt. Gox lost 750,000 of its customer's coins and went bankrupt, causing the value of bitcoin to crash; Executive chairman Peter Vessenes' business relationship to Karpeles has been described as inappropriate.

CoinDesk

A poll of 3,000 Mt. Gox customers by CoinDesk indicated that 68% of polled customers were still awaiting funds from Mt. Gox.
Although Mt. Gox data was not used initially, due to withdrawal concerns for US customers, in November 2013, Mt. Gox was added to the BPI due to "a reduction in the risk premium and the option of additional deposit/withdrawal methods".

Bitfinex

Bitfinex, which replaced Mt. Gox as the world's largest bitcoin exchange, lost $72 million in bitcoin in 2016.
Mt. Gox

Tokyo

Tokyo, JapanTokyo MetropolisTōkyō
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan.

Liquidation

liquidatedvoluntary liquidationliquidate
In April 2014, the company began liquidation proceedings.

EDonkey2000

eDonkeyeDonkey2k
In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet1, Ripple, Stellar) thought of building a website for users of the Magic: The Gathering Online fantasy-based card game service, to let them trade "Magic: The Gathering Online" cards like stocks.

Ripple (payment protocol)

RippleRipple monetary systemRipple payment protocol
In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet1, Ripple, Stellar) thought of building a website for users of the Magic: The Gathering Online fantasy-based card game service, to let them trade "Magic: The Gathering Online" cards like stocks.

Magic: The Gathering Online

Magic OnlineMagic Online World ChampionshipComputer game
In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet1, Ripple, Stellar) thought of building a website for users of the Magic: The Gathering Online fantasy-based card game service, to let them trade "Magic: The Gathering Online" cards like stocks.

Software release life cycle

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Initially in beta release, sometime around late 2007, the service went live for approximately three months before McCaleb moved on to other projects, having decided it was not worth his time.

Real versus nominal value (economics)

inflation-adjustednominalnominal value
On 19 June 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 to transfer a large number of bitcoins illegally to himself.

Hacker

hackinghackershack
On 19 June 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 to transfer a large number of bitcoins illegally to himself.

Ask price

asking priceofferask
He used the exchange's software to sell them all nominally, creating a massive "ask" order at any price.

Public-key cryptography

public keypublic key cryptographyprivate key
As no private key could ever be assigned to them, these bitcoins were effectively lost.

Node (networking)

nodenodesnetwork node
While the standard client would check for such an error and reject the transactions, nodes on the network would not, exposing a weakness in the protocol.

Communication protocol

protocolprotocolscommunications protocol
While the standard client would check for such an error and reject the transactions, nodes on the network would not, exposing a weakness in the protocol.

Money laundering

money-launderinglaunderinglaunder
On 22 February 2013, following the introduction of new anti-money laundering requirements by e-commerce/online payment system company Dwolla, some Dwolla accounts became temporarily restricted.

Dwolla

On 22 February 2013, following the introduction of new anti-money laundering requirements by e-commerce/online payment system company Dwolla, some Dwolla accounts became temporarily restricted. On 15 May 2013 the US Department of Homeland Security (DHS) issued a warrant to seize money from Mt. Gox's U.S. subsidiary's account with payment processor Dwolla.

Blockchain

Blockchainsblockchain technologyblock
In March 2013, the bitcoin transaction log or "blockchain" temporarily forked into two independent logs, with differing rules on how transactions could be accepted.

United States Department of Homeland Security

Department of Homeland SecurityHomeland SecurityU.S. Department of Homeland Security
On 15 May 2013 the US Department of Homeland Security (DHS) issued a warrant to seize money from Mt. Gox's U.S. subsidiary's account with payment processor Dwolla.

Warrant (law)

warrantRoyal Warrantwarrants
On 15 May 2013 the US Department of Homeland Security (DHS) issued a warrant to seize money from Mt. Gox's U.S. subsidiary's account with payment processor Dwolla.