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.

Advertisement - Article continues below

"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."

As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today.

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.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

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

Preparing for long-term remote working after COVID-19

Learn how to safely and securely enable your remote workforce

Download now

Cloud vs on-premise storage: What’s right for you?

Key considerations driving document storage decisions for businesses

Download now

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Transforming productivity

Solutions that facilitate work at full speed

Download now
Advertisement

Recommended

Visit/technology/34286/us-court-orders-alleged-bitcoin-inventor-to-split-his-bitcoin-hoard
Technology

US court orders alleged Bitcoin inventor to split his hoard

28 Aug 2019
Visit/technology/cryptocurrencies/356311/bitcoin-scam-exposes-the-personal-details-of-250000-people
cryptocurrencies

Bitcoin scam exposes the personal details of 250,000 people

1 Jul 2020
Visit/security/ransomware/356292/university-of-california-gets-fleeced-by-hackers-for-114-million
ransomware

University of California gets fleeced by hackers for $1.14 million

30 Jun 2020
Visit/security/cyber-security/356289/australia-announces-135b-investment-in-cybersecurity
cyber security

Australia announces $1.35 billion investment in cyber security

30 Jun 2020

Most Popular

Visit/laptops/29190/how-to-find-ram-speed-size-and-type
Laptops

How to find RAM speed, size and type

24 Jun 2020
Visit/cloud/356260/the-road-to-recovery
Sponsored

The road to recovery

30 Jun 2020
Visit/business-strategy/it-infrastructure/356258/the-growing-case-for-it-flexibility
Sponsored

The growing case for IT flexibility

30 Jun 2020