Mt Gox: The History of a Failed Bitcoin Exchange

The arrest of Mt Gox CEO Mark Karpeles on Saturday is the latest twist in a lengthy plot surrounding the now-defunct bitcoin exchange.

AccessTimeIconAug 4, 2015 at 5:46 p.m. UTC
Updated Sep 11, 2021 at 11:48 a.m. UTC
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The arrest of Mt Gox CEO Mark Karpeles on Saturday is the latest twist in a lengthy plot surrounding the now-defunct bitcoin exchange.

Arrested in Japan over allegations he manipulated Mt Gox's volumes prior to its demise in 2014, Karpeles' detention has captivated worldwide attention.

Credited with being one of the world's first bitcoin exchanges – accounting for up to 80% of trading volume during its peak – Mt Gox first launched in the summer of 2010 and suspended operations in February 2014 amid heightened speculation about potential untoward activity.

Speculation about what really happened at the exchange has been rife since its collapse, with recent events representing a change in narrative.

Whereas questions initially arose about the possibility of an outside job or hack, the latest developments suggest the loss of $350m worth of bitcoin may have been due to suspicious activity within the exchange.

Here's an interactive timeline of the key events surrounding Mt Gox:

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