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Mt. Gox Bitcoin Exchange Seems To Have Disappeared In Cyberspace Black Hole

The woes of Bitcoin seem to be never ending. There is rumor and speculation that one of the biggest Bitcoin exchanges is could be out of business for good. Mt. Gox has been in the headlines for the wrong reasons of late and the latest news could be the last nail in the coffin. As we post this article Mt. Gox seems to have disappeared into a black hole in cyberspace. Anyone attempting to access the site gets a blank page without an error message. As of now the founder of Mt. Gox is not available for comment and their Tokyo offices are empty.

Besides the panic amongst investors in Mt. Gox the more serious question is if the problem is a local one related to mismanagement at Mt. Gox or a more general problem with Bitcoin? As reported earlier this month, Mt. Gox suspended withdrawals after some “unusual activity”. There are wild rumors of a report circulation on the internet which claims that due to security problems over 744.000 Bitcoins were ”missing due to malleability-related theft.”

The solvency of the company is been questioned as currently Mt.Gox has only $37.75m in assets and over $174m in liabilities. Whether this document is genuine or not, the site been down and business offices empty are not a good sign. Attempts to reach Mt. Gox via telephone or email were unsuccessful. Angry virtual currency traders hare protesting outside Mt. Gox’s offices with one trader been quoted as saying,” It looks like that’s disappeared.”

As a result of this Mt. Gox’s “Houdini” disappearance act the virtual currency is down more than 22% as we post this article. We will continue to update this story as it develops.

Author: admin

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