Blog Archives

Mt.Gox subpoenaed by US Attorney’s office, may be under investigation in Japan

Posted on 26th February, 2014

The worsening situation at Mt.Gox has caught the attention of the US Attorney’s office in New York. According to a story published in the Wall Street Journal yesterday, the federal prosecutors sent a subpoena to Mt.Gox asking the exchange to “preserve certain documents among other things.” While the US Attorney’s office has declined to comment […]

New statement Mt.Gox CEO Karpeles sheds no light on developments

Posted on 26th February, 2014

There has been very little information to come from Mt.Gox in recent weeks, and what details have emerged from the troubled exchange have generally come in the form of leaks or unconfirmed reports. While there have been occasional, fragmentary reports from Mt.Gox CEO Mark Karpeles, they’ve offered little insight into the situation at Mt.Gox. Today’s […] suspends suspends trading following Mt.Gox shutdown

Posted on 25th February, 2014

Bitcoin margin-trading platform announced today that it was suspending all services “until further notice” following the apparent shutdown of trading partner Mt.Gox. The UK and Singapore-based company made the announcement to customers via email. The email claims that all customer funds are secure, and that the company will honor all withdrawal requests and […]

Mt.Gox offline, rumored to have lost 744,400 BTC

Posted on 25th February, 2014

Last night, Tokyo-based Bitcoin exchange Mt.Gox went offline, feeding rumors that the troubled company was planning to announce bankruptcy. Shortly after the site went down, a document titled “Crisis Strategy Draft” surfaced on Bitcoin forums, seemingly originating from Mt.Gox. The document claims that 744,400 BTC (roughly $350 million) were stolen from the site by hackers […]

J.P. Morgan report examines Mt.Gox woes

Posted on 24th February, 2014

In a report released today, investment banking giant J.P. Morgan examined the recent “saga” of troubled Bitcoin exchange Mt.Gox. Authored by Morgan’s head of foreign exchange strategy, John Normand, the one-page report is a follow-up to their more general profile on Bitcoin released earlier this month. The contents of the report itself seem to be […]

Mt.Gox CEO Karpeles resigns from Bitcoin Foundation, wipes Twitter feed

Posted on 24th February, 2014

Mt.Gox CEO Mark Karpeles quietly resigned from the Bitcoin Foundation yesterday. The resignation, which was effective immediately, was confirmed today by Bitcoin Foundation spokesman Jinyoung Lee Englund, speaking with the Reuters news agency. Immediately following the resignation, Mt.Gox also deleted the entire contents of it Twitter feed. There has been no comment from Mt.Gox about […]

Tokyo police shut down Mt.Gox protest

Posted on 22nd February, 2014

Yesterday, police broke up the small, loosely organized protest outside Mt.Gox’s offices in Tokyo’s Shibuya district. Police told the protestors that the demonstration was illegal, and warned them not to return without a “demonstration license.” According to protest organizers, the police were called by other tenants of the building who had grown tired of the […]

As Mt.Gox drops below $100, the speculators circle overhead

Posted on 21st February, 2014

The situation on the troubled Mt.Gox keeps getting worse. Early Friday morning, the price of Bitcoin dropped to $91.50 on the Tokyo-based exchange, well below the $550 average seen across other major exchanges. Although prices on Mt.Gox have been declining steeply since the exchange locked down user transactions earlier this month, falling below the $100 […]

Mt.Gox plummets to $130

Posted on 20th February, 2014

For the first time since last October, Bitcoin prices on Mt.Gox fell to $130 today. By comparison, prices on the other major exchanges have dipped only to around $570. The Mt.Gox price divergence has grown increasingly wide in the last week following the lockdown of withdrawals from the troubled Tokyo-based exchange, as well as growing […]

Mt.Gox claims withdrawals to resume soon

Posted on 17th February, 2014

In a statement released earlier today, Mt.Gox announced plans unfreeze customer accounts “soon.” The announcement follows a terrible week for Mt.Gox, as Bitcoin prices on the troubled exchange tumbled to $220 over the weekend, over $400 lower than the values on the other major exchanges. On Saturday, Mt.Gox froze internal trading on the site while […]