Mt. Gox Still Working on Withdrawals As Price Sinks Below $150

Eric Calouro
By Eric Calouro February 20, 2014 09:30 Updated

Mt. Gox Still Working on Withdrawals As Price Sinks Below $150

Mtgox Logo Large

As was noted late on Thursday, Mt. Gox made a follow-up statement on Thursday with regard to the status of withdrawals at their exchange.

The Tokyo-based company says they didn’t want to provide an “update on an update”, but the fact of the matter is that there aren’t very many new developments on this front. In other words, they’re still working on it.

Gox is blaming an office move for delaying things further:

In addition to the technical issue, this week we have experienced some security problems, and as a result we had to relocate MtGox to our previous office building in Shibuya. The move, combined with some other security and technical challenges, pushed back our progress.

While they haven’t elaborated on what the security issue is exactly, we do know that for a number of days the previous office location has seen a small number of protesters outside (here’s one confronting Gox CEO Karpeles). That may or may not have something to do with it — but we won’t continue to speculate.

For now, users are still left waiting. Uncertain as to what the next few days hold. What is certain is that bitcoins stored at the exchange are rapidly losing value. f you’ve taken a peak at the charts today, you’ll notice the price has sunk down even further, reaching a low of $130 in the past 24 hours (a 50 percent drop).

“We are committed to solving this issue and will provide more information as soon as possible to keep everyone in the loop,” the company said.

Eric Calouro
By Eric Calouro February 20, 2014 09:30 Updated

Poll of the Week

How often do you use bitcoin for purchasing items?

View Results