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Bitcoin Turmoil After Mt Gox Exchange ‘Theft’

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Sky News
February 25, 2014

The Bitcoin exchange industry has moved to reassure holders of the virtual currency amid reports 6% of Bitcoins in circulation, worth roughly $375m (£225m), have been stolen.

The once-mighty Mt Gox exchange has reportedly suffered a cyber attack, with an apparent internal document suggesting more than 740,000 Bitcoins are missing from the exchange.

The Mt Gox website is currently offline with trading suspended and withdrawals have been frozen.

Mt Gox, which is based in Tokyo, has not commented on the claims, but its chief, Mark Karpeles, quit the board of the Bitcoin Foundation – an advocate for the virtual currency – on the eve of the shutdown.

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This article was posted: Tuesday, February 25, 2014 at 5:13 am

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