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Bitcoin exchange Mt. Gox goes dark in blow to virtual currency
RUAIRIDH VILLAR, SOPHIE KNIGHT AND BRETT WOLF reuters.com Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at "a turning point" but gave no details. Several other digital currency exchanges, including Bitstamp and BTC-E, issued statements attempting to reassure investors of both bitcoin's viability and their own security protocols. The website of Mt. Gox suddenly went dark on Tuesday with no explanation, and the only activity at the company's Tokyo office was outside, where a handful of protesters said they had lost money investing in the virtual currency. Hours later, Mt. Gox CEO Mark Karpeles told Reuters in an email: "We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties." He did not give any other details. Bitcoin investors deposit their holdings in digital wallets at specific exchanges, so the Mt. Gox shutdown is similar to a bank closing its doors - people cannot retrieve their funds. Tokyo-based Mt. Gox, which began as a venue for trading cards, had surged to the top of the bitcoin world, but critics, from rival exchanges to burned investors, said the digital marketplace operator had long been lax over its security. Mt. Gox halted withdrawals earlier this month after it said it detected "unusual activity on its bitcoin wallets and performed investigations during the past weeks." The move pushed bitcoin prices down to their lowest level in nearly two months. On Sunday Karpeles resigned from the board of the Bitcoin Foundation, the digital currency's trade group. A document circulating on the Internet purporting to be a crisis plan for Mt. Gox, said more than 744,000 bitcoins were "missing due to malleability-related theft", and noted Mt. Gox had $174 million in liabilities against $32.75 million in assets. It was not possible to verify the document or the exchange's financial situation. to read more: reuters.com
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