Bitcoin History Part 17: That Time Mt. Gox Destroyed 2,609 BTC

Technically talking, it’s inconceivable to destroy bitcoins. However it’s attainable to ship cash to an unspendable deal with, rendering them redundant to all intents and functions. In October 2011, that’s precisely what Mark Karpeles did when he consigned 2,609 BTC to everlasting oblivion resulting from a scripting error.

Additionally learn: Bitcoin History Part 16: The First Mt. Gox Hack

Learn how to Destroy One Week’s Earnings in One Click on

Within the final installment of Bitcoin History, Mt. Gox had simply suffered its first hack in summer time 2011. Lower than 4 months later, its hapless CEO Mark Karpeles was to endure one other embarrassing episode when he worn out every week’s takings for the bitcoin trade. In comparison with different losses Gox was to endure, this one was a drop within the ocean, and has thus been largely misplaced to historical past. The incident deserves revisiting, nevertheless, because it offers a cautionary story on the hazards of meddling…

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