Mt.Gox was a Japanese bitcoin exchange headquartered in Tokyo, Japan. Established in 2010, it had become the largest bitcoin trading platform globally, handling over 70% of all bitcoin (BTC) trades by early 2014. However, it abruptly halted operations amid revelations of a massive bitcoin hack, involving bitcoins worth hundreds of millions of US dollars.

Recently, Bitcoin's price dropped by -2.13% on Monday, with a daily trading decrease of over 5%. This decline followed Mt.Gox's announcement regarding its plan to start compensating $9 billion in Bitcoin and Bitcoin Cash repayments beginning in the second week of July.