the Mt. Gox collapse was a defining moment in crypto.


it was the largest bitcoin exchange at the time. handling around 70% of all transactions. then it collapsed and hundreds of thousands of bitcoin disappeared.
it exposed a harsh truth. 'not your keys, not your coins. people realized exchanges are not crypto. they are centralized points of failure.
trust shifted from platforms to self-custody. hardware wallets. private keys. personal control. the event forced the industry to mature and security became a priority.
regulators started paying attention. builders started designing better systems. it was a painful lesson, but necessary.
the event itself just made the whole crypto industry stronger. lessons in that.
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