Popular Bitcoin Exchange Goes Down, Price Of Virtual Currency PlungesForbes: Mt. Gox 'Teeters On The Brink Of Total Failure' |
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The world of Bitcoin had some serious drama on Tuesday. The virtual currency has been gaining ever greater popularity in recent months, most notably with the first Las Vegas casino-hotel electing to allow its guests to use Bitcoin, but it still remains fragile.
From Forbes:
“Bitcoin’s value fell close to 23 percent from its already battered price to around $418 at its lowest point Monday night as the oldest and once-largest Bitcoin exchange went offline completely, showing a blank website and even deleting all messages from its Twitter feed.”
The company, Mt. Gox, later posted on its website:
“In the event of recent news reports and the potential repercussions on MtGox’s operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.”
According to the report, a large hack might have been responsible for the shutdown of the exchange. Some supporters of Bitcoin were unfazed by the developments, as it was reported that Mt. Gox is just one of many making up Bitcoin’s rapidly expanding world.
The currency has gained some traction in the online poker world.
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