Wednesday, 26 February 2014

The Mt. Gox fiasco won't kill Bitcoin




By Adrianne Jeffries and Russell Brandom
On Monday at around 11PM Mt. Gox, the largest exchange for trading the virtual currency Bitcoin, started disappearing piece by piece. First the homepage disappeared. Next the support page was pulled, followed by the press releases and then the API. "The requested page was not found on this server," customers were told when they tried to access their deposits. Users started to panic as they realized they might never get their bitcoins back.
It had been a rough month for Gox. The company froze customer accounts, citing a technical vulnerability. Now, three weeks later, a leaked internal document revealed that the exchange is more than $100 million dollars in the hole owing to a theft that stole...
Continue reading…