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Bitcoin History Part 17: That Time Mt. Gox Destroyed 2,609 BTC

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Technically speaking, it’s impossible to destroy bitcoins. But it is possible to send coins to an unspendable address, rendering them redundant to all intents and purposes. In October 2011, that’s exactly what Mark Karpeles did when he consigned 2,609 BTC to eternal oblivion due to a scripting error.

Also read: Bitcoin History Part 16: The First Mt. Gox Hack

How to Destroy One Week’s Profits in One Click

In the last installment of Bitcoin History, Mt. Gox had just suffered its first hack in summer 2011. Less than four months later, its hapless CEO Mark Karpeles was to suffer ...

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