Bitcoin Exchange Mt. Gox Working To Fix Problems

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The CEO of Japanese bitcoin exchange Mt. Gox has a new message for investors and visitors to their website. He says they’re working on resolving the issues that caused them to stop withdrawals and then, this week, halt all activity.

Mt. Gox does damage control

On Tuesday, Mt. Gox went offline for a while before posting a very brief message saying they decided to cease all activities. Today, the exchange posted a new message in an attempt to assure investors that they are working to find a resolution to the problems which have plagued them for more than two weeks. Also, it rather sounds like some think CEO Mark Karpeles has fled the country:

Dear Mt. Gox Customers,

As there is a lot of speculation regarding Mt. Gox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Mark Karpeles

Mt. Gox to file bankruptcy?

Recode reported that Mt. Gox confirmed in private discussions with groups in the bitcoin community that it will be filing for bankruptcy. Also CNET reports that the HTML code on the exchange’s website reads: “put announce for mtgox acq here.” This would suggest that perhaps another company is looking at acquiring Mt. Gox. However, it seems rather odd that a currency which is practically embedded in the technology industry would put something like this in the HTML code. If you’ve got techies watching the exchange, it’s no surprise that one of them checked out the website’s code.

Karpeles did say in an interview with Reuters this week though that they’re “at a turning point” and that they will have “an official announcement rather soon-ish.” However, he couldn’t talk much because it involves “other parties.”


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About the Author

Michelle Jones
Michelle Jones was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Michelle has been with ValueWalk since 2012 and is now our editor-in-chief. Email her at [email protected]

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