Post Thumbnail

It's been about ten months since the Mt. Gox bitcoin exchange turned out the lights, blaming hackers or a bug in the blockchain as reasons why 850,000 bitcoin it held had suddenly disappeared. Today the Japanese paper Yomiuri Shinbun (English) reports that Tokyo Police investigating the events hav...

January 1st 2015 at 12:23am 0 Comments
Post Thumbnail

A Japanese court-appointed administrator is now in control of Mt. Gox following an unsuccessful attempt to save the business. The Bitcoin exchange filed for bankruptcy in February after losing 850,000 Bitcoins, though it later found around a quarter of them. That's still a $340 million loss at cur...

April 16th 2014 at 8:29am 0 Comments
Post Thumbnail

Remember how the discovery of a botnet took much of the value out of the Mt. Gox Bitcoin exchange, leading it to declare bankruptcy? Yeah, investors aren't happy about that -- and they're now demanding compensation. One of them, Gregory Greene, has filed a lawsuit accusing the exchange of fraud fo...

February 28th 2014 at 3:28pm 0 Comments
Post Thumbnail

As promised, Mt. Gox has reenabled cash withdrawals after taking its system offline to iron out the kinks. The Bitcoin exchange says it's successfully processed over $1,000,000 worth of transactions during these past two weeks of testing, which has given it the confidence to resume business -- des...

July 4th 2013 at 1:01pm 0 Comments
Post Thumbnail

It's easy to see that the Bitcoin market is under stress when there's rising overall activity and tighter oversight. However, it's now so hectic that the Mt. Gox exchange has trouble fulfilling even basic transactions -- and the institution is freezing US dollar withdrawals for two weeks to keep t...

June 20th 2013 at 9:36pm 0 Comments
Post Thumbnail

While the Bitcoin market is advancing toward legitimacy in the financial world, that also means closer legal scrutiny -- and the Mt. Gox exchange is tightening its policies to match. As of today, the institution requires verification for every non-Bitcoin deposit or withdrawal. The move keeps Mt....

May 30th 2013 at 8:44pm 0 Comments