Mt. Gox (an abbreviation for Magic: The Gathering Online Exchange) is established by Jeb McCaleb, as one of the first Bitcoin exchanges online.
The Cryptocurrency exchange holds significant history for multiple reasons, including during 2013 it had become the largest exchange in the world, handling approximately 70 percent of all BTC trades globally (by volume). Sadly, the exchange became the subject of scandals, hacks and the infamous loss of 744,408 of their users’ Bitcoin through a hack that reportedly ran over several years.
On the 28th February, 2014, Mt. Gox exchange filed for bankruptcy in Tokyo and closed.
