Blog Archives

Plummet: Mt.Gox Bitcoin value drops below $250, may be hacked

Posted on 16th February, 2014

Bitcoin values at troubled Tokyo-based Bitcoin exchange plunged below $250 today, well under the $620 average seen on most other exchanges this morning. Given the rough week that Mt.Gox has had, the exact cause behind the latest price drop is difficult to pinpoint. One strong candidate, however, is the growing rumor that Mt.Gox itself was […]

Mt.Gox halts internal deposits

Posted on 15th February, 2014

Earlier this week, Mt.Gox suspended all Bitcoin withdrawals from the site, citing vulnerabilities to the “transaction malleability” glitch, preventing customers from removing their funds from the site. Today, the Tokyo-based exchange took things a step further, blocking all deposits and internal transfers for a “short site maintenance update.” From the Mt.Gox press release: In order […]

Report: Transaction malleability, hour by hour

Posted on 15th February, 2014

Last week’s transaction malleability scare made international headlines, once again bringing Bitcoin into the mainstream news. It was the cited cause of the total collapse of Silk Road 2.0, the glitch that forced both Mt.Gox and Bitstamp to freeze user accounts for a few days, and it put massive downward pressure on global Bitcoin value. […]

Mt.Gox BTC values briefly scratch $300

Posted on 14th February, 2014

Only yesterday, we reported about the growing disparity between the value of a Bitcoin on Mt.Gox versus that same Bitcoin on any other exchange. Today’s prices have only amplified this trend, with trades on Mt.Gox reaching a recent low of $302, even as the price hovered well above $600 on most of the other major […]

Man confronts Mt.Gox CEO Karpeles over frozen Bitcoin accounts

Posted on 14th February, 2014

Inspired by the recent three-day “sit in” protest at the Mt.Gox offices by Australian Bitcoin activist CoinSeacher, Kolin Burges decided to take action as well. The London-based software developer moved his holdings in Litecoin to Mt.Gox at the end of last year, only to see his funds completely frozen earlier this month. Fed up with […]

Is Mt.Gox “effectively dead”?

Posted on 13th February, 2014

Not all that long ago, Mt.Gox was the center of the Bitcoin world. It was the first major exchange to handle the virtual currency, and the largest by volume until last year. After a year-long series of blunders and one massive recent catastrophe, however, the users are fleeing the site in droves. The tech press […]

Mt.Gox Bitcoin value dips below $500

Posted on 13th February, 2014

It’s been a bad week for Mt.Gox. Once the largest and best-known Bitcoin exchange, the Tokyo-based trading center has been besieged by complaints and criticism following the exposure of a weakness in their code that fails to properly compensate for the “transaction malleability” bug, first revealed in 2011. Shortly after that revelation, Mt.Gox suspended currency […]

Bitcoin hit by “massive and concerted” DDoS attack

Posted on 12th February, 2014

Following an already rough week of falling prices, Forbes reports that Bitcoin suffered another blow yesterday after the detection of a “massive and concerted” distributed denial of service (DDoS) attack on the block chain and related software. The attack focuses on a vulnerability known as “transaction malleability,” which allows records of transactions to be changed, […]