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Launched in 2010, Mt. Gox was the world's largest bitcoin exchange until its demise in 2014. By 2013, the Japan-based exchange was handling 70% of all bitcoin trades worldwide. However, it collapsed in 2014 after it was revealed that it had lost 744,408 of its customers' bitcoins and 100,000 of its own bitcoins, then worth hundreds of millions in US dollars. In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors.
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