IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Mt. Gox Bitcoin exchange down

Other exchanges distance themselves from troubled website.

The Mt. Gox website appears to be down, shortly after six major Bitcoin exchanges released a joint statement distancing themselves from the troubled Tokyo-based bitcoin exchange.

Mt. Gox's homepage was not loading, although no error message appeared. Bitcoin exchanges allow their users to trade bitcoins for US dollars and other currencies.

"This tragic violation of the trust of users of Mt. Gox was the result of one company's actions and does not reflect the resilience or value of bitcoin and the digital currency industry," the companies - Coinbase, Kraken, Bitstamp, BTC China, Blockchain and Circle - said in the statement. 

Mt. Gox was not immediately available for comment.

"As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today. Mt. Gox has confirmed its issues in private discussions with other members of the bitcoin community," the companies said.

Earlier in February, Mt. Gox, the best-known digital marketplace operator, said it was halting withdrawals indefinitely after it detected "unusual activity."

On Sunday, Mark Karpeles, chief executive of Mt. Gox, resigned from the board of the Bitcoin Foundation, in a blow to the digital currency. Mt. Gox had once been the largest exchange handling bitcoins.

The resignation followed a number of technical issues, including a massive cyber attack from unknown sources that has been spamming bitcoin exchanges.

Tokyo-based Mt. Gox was a founding member and one of the three elected industry representatives on the board of the Bitcoin Foundation.

Alabama's securities regulator said he will issue an alert on Tuesday, cautioning consumers and investors to stop trading on bitcoin exchanges or adding to their accounts if they are having trouble redeeming the digital currency or cashing out.

"There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants," the six Bitcoin exchanges said in the joint statement.

(Reporting by Chris Peters in Bangalore and Sophie Knight in Tokyo; Editing by Supriya Kurane)

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Recommended

What is cryptocurrency mining?
cryptocurrencies

What is cryptocurrency mining?

27 May 2022
IMF urges El Salvador to remove Bitcoin as legal tender
cryptocurrencies

IMF urges El Salvador to remove Bitcoin as legal tender

26 Jan 2022
El Salvador announces plans to build a 'Bitcoin city' at the foot of a volcano
cryptocurrencies

El Salvador announces plans to build a 'Bitcoin city' at the foot of a volcano

22 Nov 2021
Cryptocurrency: Should you invest?
cryptocurrencies

Cryptocurrency: Should you invest?

27 Oct 2021

Most Popular

How to boot Windows 11 in Safe Mode
Microsoft Windows

How to boot Windows 11 in Safe Mode

7 Jun 2022
Attracting and retaining talent through training
Sponsored

Attracting and retaining talent through training

13 Jun 2022
The top programming languages you need to learn for 2022
Careers & training

The top programming languages you need to learn for 2022

23 Jun 2022