Mt Gox Logo

In a previous story, I had explained the infamous DAO Hack in detail. However, the DAO hack was not the first or the last hack in the wild world of crypto tokens. In this story, I will explore the first major crypto hack, the infamous Mt Gox, the effects of which still could not be recovered.

Mt Gox had been founded by Jed McCaleb in 2010, sold to Mark Karpeles in March 2011 and it was the biggest Bitcoin exchange in late…