(“Mt. Gox” stands for Magic: The Gathering Online eXchange.) Unsurprisingly, a former trading card website proved to be a bad custodian for billions of dollars. Its security and record keeping were so poor that hackers would steal Bitcoins as soon as users deposited them. Mt. Gox filed for bankruptcy in 2014, and owned up to the fact that it had lost 7 percent of all Bitcoins in existence.
