Ten years ago, the world of Crypto Assets experienced an unprecedented earthquake. The collapse of the Mt. Gox exchange not only shocked the entire industry but also sounded the alarm for investors. At that time, about 850,000 Bitcoins vanished into thin air, turning countless investments into bubbles. This event still reminds us today: in the field of digital assets, security is always the primary consideration.

The story of Mt. Gox began in 2007, initially created as a Magic: The Gathering trading platform. In 2010, the founder transformed it into a Bitcoin exchange, quickly becoming the market leader. After changing ownership in 2011, Mt. Gox rapidly developed under the new management, and by 2013, it accounted for 70% of the global Bitcoin trading volume, becoming a true industry giant.

However, the success of Mt. Gox masked serious internal problems. Despite the enormous trading volume, its management was extremely chaotic. There were frequent system security vulnerabilities, and in 2011, there was an incident where 2,000 Bitcoins were stolen. Even more concerning was the commingling of user funds with company funds, lacking clear separation. Additionally, Mt. Gox's technology architecture was relatively outdated, with significant security risks especially in private key storage. Most critically, Mt. Gox had never undergone a strict third-party audit, which is extremely dangerous for handling such large amounts of funds.

The Mt. Gox incident taught us a profound lesson. It not only revealed the vulnerabilities of early crypto asset exchanges but also highlighted the importance of standardized management and security measures. Today, although the crypto asset industry has made significant progress, the lessons from Mt. Gox are still worth remembering at all times. For investors, choosing a secure and reliable exchange is crucial; for exchanges, establishing a sound security mechanism, conducting regular security audits, and maintaining transparency are all key to gaining user trust.

In today's evolving landscape of Crypto Assets, the Mt. Gox incident remains a powerful reminder: in this rapidly developing field, security must never be overlooked. Only by learning from past lessons and continually improving security measures can the Crypto Assets industry truly achieve long-term, healthy development.