Mt. Gox loses 744,408 bitcoins

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Mt.Gox CEO Mark Karpeles bows to Japanese regulators.

What was once the world's largest trading platform for bitcoin fell victim to what was essentially a massive bank robbery. Cyber attackers duped Mt.Gox with a scheme resembling receipt fraud. When Mt.Gox discovered it was under attack, it stopped investors from pulling their money out of the trading platform. Nearly all that money is lost forever. The losses were worth nearly $400 million at the time.

First published December 16, 2014: 11:26 AM ET

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