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MtGox Exchange Rate Still Going Down, BTC Withdraws not Yet Resumed

20 Feb


In a previous statement regarding the situation with the suspended BTC withdraws at MtGox the company has said that this Thursday (today) they could restore the normal operations including BTC withdraws as they have worked on a workaround to prevent fraudulent use of the reported malleability issue with BTC transactions. Today however they have released an update on the situation and they still haven’t restored normal BTC withdraw operations while meanwhile the exchange rate of BTC at MtGox continues to fall and is closing to $100 USD mark. The good thing is that the exchange rate of BTC in other major exchanges has stabilized already and is not affected that much by MtGox’s very low rate because of the BTC withdraws being suspended there for a while already. Below is the official statement from MtGox from today:

Thank you for your patience this week while we are working on re-initiating bitcoin withdrawals. In addition to the technical issue, this week we have experienced some security problems, and as a result we had to relocate MtGox to our previous office building in Shibuya (details can be found here The move, combined with some other security and technical challenges, pushed back our progress.

As much as we didn’t want to only provide an “update on an update”, this is the current status. We are committed to solving this issue and will provide more information as soon as possible to keep everyone in the loop.

We are very sorry for the delays and deeply appreciate your kind understanding and continuous support.

Best regards,
MtGox Team

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1 Response to MtGox Exchange Rate Still Going Down, BTC Withdraws not Yet Resumed


February 20th, 2014 at 19:19

Yeah… suuuure… you’re moving in the midst of a crisis the likes of which, would land you in Jail if you were based in the U.S….

5,000,000,000:1 odds states that one of the CEO’s or one of their cronies will buy in on the massively reduced bitcoin market when it hits around $500… and then when it hits over $1200 like it did a few months back… you’ll know, because you’ll see a LARGE sale of bitcoins.

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