Mt. Gox Bitcoin Continues to Collapse

February 20, 2014 12:30 PM EST Send to a Friend
The price of Bitcoin on the Mt. Gox exchange continues to crumble as many see an imminent bankruptcy of the once prominent exchange. The price of bitcoin on Mt. Gox last traded at $130, down nearly 50% in the last 12-hours. Meanwhile, the average price on other exchanges is $571.72, according to the CoinDesk index, or 340% above the price on Mt. Gox.

The price collapse comes as Mt. Gox again delayed re-initiating bitcoin withdrawals and abruptly changed offices citing "security" and "technical" issues.

Mt. Gox Latest Update:

Tokyo, Japan, February 20th, 2014!

Dear MtGox Customers,

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 https://support.mtgox.com/home). 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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