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Cryptocurrency exchanges are once more in focus after the bankruptcy of Sam Bankman-Fried founded FTX.
It is estimated that at least $1 billion of customer funds evaporated from the now-collapsed exchange, reported CNN.
However, the imagination of the "cryptoverse" was dominated by the collapse of another exchange not that long ago — Mt. Gox.
In 2011 when the Mark Karpeles-led Mt. Gox collapsed, 850,000 Bitcoin (CRYPTO: BTC), today worth nearly $14.63 billion, were stolen.
Nearly 137,000 BTC, worth almost $3 billion, are to be released back into the cryptocurrency markets in order to compensate the investors who lost their funds in 2011.
See Also: 11 Best Cryptocurrency Brokers in December 2022
The Investment: Mt. Gox suspended trading on Feb. 24, 2014. Had an investor put $100 into the apex cryptocurrency the same day, when BTC hit a low of $538.70, here’s how much they’d have today. At the time of writing, BTC was seen at 17,229.11.
| Investment | Date Of Purchase/Listing | Purchase Amount | Purchase Price | Units/Shares Obtained | Worth Now | Percentage Change |
|---|---|---|---|---|---|---|
| Bitcoin (BTC) | Feb. 24, 2014 | $100 | $538.70 | 0.186 | $3198.28 | 3098.28% |
The investor would enjoy a whopping 3,098.28% gain on their investment and the $100 would have turned into $3,198.28 at the time of writing.
Posted In: $BTC
