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Has Bitcoin Exchange Mt. Gox Vanished For Good?
February 25, 2014
Amanda Marie
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As of today, Bitcoin exchange Mt. Gox appears to have vanished. The website of what was once was the world’s largest bitcoin exchange is down, and its founder remains unaccounted for.

Mt. Gox chief executive Mark Karpeles had resigned from the Bitcoin Foundation's board of directors on Sunday, and then late Monday the website for the exchange went down. The page is currently not reporting an error, but all visitors are seeing is a blank white page.

According to Forbes, this follows unconfirmed reports of a “hack” or “security breach” that resulted in a loss up to 744,000 BTC or $409,200,000 which was based on the approximate value from at the time Forbes published their story.

As a result of what’s been happening to Mt. Gox, the international community is now more than ever in a position of complete uncertainty and has lost trust in Bitcoin, which is being evidenced by the recent massive price drop.

If reports of a “hack” resulting in theft are true, this is not the first time Mt. Gox has been through this. They experienced the same thing in 2011, which clearly demonstrates an overall lack in their security procedures.

On February 7th, Mt. Gox halted all withdrawals from its trading accounts. At the time, they were unable to account for a programming issue in the way that their Bitcoin works, which allowed cyber attackers to dupe them with a scheme similar to receipt fraud. When Mt. Gox discovered it was under attack, it stopped any investors from pulling their money out of their trading platform and has yet to grant any investors access to their money.

At the time of publishing this story, attempts to reach any officials from Mt. Gox have been unsuccessful. Stay tuned, and we’ll update this news in the discussion section below the story as more information becomes available.

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