The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

MtGox (Mentougou), as the terminator of the bull market in 2013, many leeks may be unfamiliar with this Mentougou. The history of Mentougou is also very interesting. It was first introduced by Jed, the "father of eDonkey".
McCaleb built eDonkey, do you know about it? I believe many otakus born in the 1980s have used it. What was it used for? It was used to download Teacher Cang. The original purpose of creating MtGox by the "Father of eDonkey" was just to promote a card game, but by chance Jed discovered BTC and was fascinated by it, so in July 2010, Jed upgraded the Mentougou website to be available to users. A platform for trading BTC. However, because he was not good at operating a trading platform, he sold the website to Fa Fat, who lived in Japan, in March 2011. Since then, Mentougou has entered a period of rapid development, and during the bull market in 2013, Mentougou became the largest platform in the world, accounting for 80% of the global BTC trading volume. However, behind this glorious achievement, there have been hidden hacker thefts again and again.

First hacker attack

Mt.Gox was hacked in 2011. This matter is well known in the entire cryptocurrency circle, but Mt.Gox still had great influence in 2014. The 2011 hacking incident may have been caused by the computer of an auditor of the company being first attacked by hackers.

The hacker used the exchange's access to artificially tamper with the face value of Bitcoin to 1 cent per coin, and then transferred about 2,000 Bitcoins from the exchange's user account.

80% trading volume advantage

Although Mt.
Gox was hacked in 2011, but the exchange expanded rapidly and by 2013, had become the largest in the world, accounting for 80% of total Bitcoin trading volume. But at that time, the company's internal operations were not very smooth.

Mt.
One of Gox's previous business partners, Coinlab, filed a lawsuit against the company in 2013, claiming breach of contract and seeking $75 million in damages. The contract previously signed between the two stipulated that Coinlab would take over Mt.
Gox's American customer, but Mt. Gox has not fulfilled this promise.

In addition, the Department of Homeland Security has also received a lawsuit from Mt. Gox. A U.S.-based subsidiary of Mt. Gox has been accused of not having an operating license. After investigation, DHS seizes Mt.Gox
More than $5 million in fines.

The infamous Mentougou Incident

The hacker attack that led to the collapse of Mt. Gox is still shrouded in mystery.

February 7, 2014: Mt. Gox suspended all Bitcoin withdrawal services. The exchange wrote in a statement: “There is a loophole in the system. If this loophole is not solved, transaction details may be tampered with. For example, in the absence of Bitcoin transfer, the system may show that the user has transferred Bitcoin. The coins were transferred to the electronic wallet.”

February 17, 2014: In order to solve the security problem, the company took a series of measures, but all currency withdrawal services were still suspended.

February 23, 2014: Mark Karpelè resigned from the Bitcoin Foundation board of directors. On the same day, Mt. Gox deleted all posts from its Twitter account.

February 24, 2014: Mt.Gox suspended all trading activity, before the exchange went completely offline. An internal document leaked stated that the company was insolvent after 744,408 Bitcoins were stolen by hackers. This hacking incident was actually planned for a long time, but the exchange was unaware of it for many years.

February 25, 2014: Mt. Gox stated on its official website that it had "decided to temporarily close all transactions" and also mentioned "recent news reports and the significant impact of this incident."

February 28, 2014: Mt. Gox filed for bankruptcy protection in Tokyo, and then on March 9, in the United States.

In February 2014, the Bitcoin market experienced violent shocks. Mt. Gox went bankrupt and thousands of users were unable to get their investment funds back. They were both angry and helpless. From February to the end of March 2014, the price of Bitcoin fell by 36%.

Follow-up report

The Mentougou incident not only deeply affected Mt. Gox and its users, but Karpelè was also affected.

Karpelè—Mt.
Gox's CEO was charged with fraud and embezzlement in early 2015. These charges are not directly related to the Mentougou incident. He was arrested again by the Japanese police in August 2015 and was not released on bail until July 2016.

Before he was imprisoned, Karpelè voluntarily admitted that he had "found" 200,000 missing Bitcoins and stored them in a cold wallet. This raised suspicions about it. As more and more accusations are leveled against Karpelè, his reputation in the cryptocurrency market is slowly losing.

In mid-2017, Karpelè was transferred to a Tokyo court to face trials related to embezzlement and data manipulation. Karpelè admitted at trial that he had conducted debt exchange operations.

BTC-e

At the same time, another incident related to the Mentougou incident occurred: the operator of BTC-e (exchange) was arrested on suspicion of involvement in the Mentougou incident.

In July 2017, a man named Alexander
Vinnik's Russian citizen was arrested by US authorities. The stolen Bitcoins in the Mentougou incident were laundered, and the Russian citizen is said to have played a key role.

The FBI conducted a raid on BTC-e. The trading website has been shut down. This is the first time U.S. authorities have thoroughly investigated a foreign exchange.

The Wizsec team, composed of all-bit experts, investigated the matter and determined that the stolen bitcoins were transferred to Vinnik’s wallet. Most of the stolen Bitcoins go through BTC-
The e-platform was put up for sale.

Investigation continues

As the investigation continues, reports on Karpelès and Mt. Gox continue to emerge.

Karpelès proposed raising $245 million in an initial coin offering in November 2017 to rebuild the Mt. Gox exchange.

This week, an unofficial investigation revealed that a British wallet company was suspected of laundering 650,000 stolen Bitcoins.

In addition, experts believe that because Mt. Gox’s client-Nobuaki
Kobayashi dumped $400 million worth of Bitcoin in February 2018, causing the price of Bitcoin to fall to $6,000.

So far, Nobuaki Kobayashi has sold more than 35,000 Bitcoins and 34,000 Bitcoin Cash to compensate creditors.