Blog Archives

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 […]

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 […]

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 […]

Bitstamp becomes the latest victim in DDoS attack

Posted on 12th February, 2014

Thanks to a prolonged distributed denial-of-service attack, Bitcoin exchange Bitstamp suspended withdrawals late Tuesday. The world’s third-largest Bitcoin exchange joins the long-troubled MtGox exchange in the fallout over the “transaction malleability” bug in the Bitcoin code. Speaking with Bloomberg News, Blockchain.info’s chief security officer Andreas Antonopoulos characterized the DDoS attacks as “a nuisance” aimed at […]