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Mt. Gox Breaks Silence With Vague Statement, Confirms Transaction Freeze

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Mt. Gox has finally made a peep, but not much more, about its murky situation. In yet another strange twist in its cataclysmic downfall, the scandalous Bitcoin exchange has just confirmed on its website that it has indeed halted all transactions. Its Twitter feed still remains empty, just as its website did only hours ago.   

The vague statement from the Tokyo-headquartered company, which was once the world’s top reigning cryptocurrency trading destination, reads:

“Dear MtGox Customers,

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.

Best regards,

MtGox Team”

Related: One-Time Bitcoin Exchange Giant Collapses Amid Insolvency, Trading Allegedly Suspended

The threadbare statement appeared on the website not long after Mt. Gox CEO Mark Karpelès cryptically told Reuters that the company is “at a turning point.” He made the seemingly guarded comment in an email reply to the news agency’s inquiry about whether or not the exchange was truly defunct.    

Meanwhile, as of 12:29 p.m. ET, Bitcoin prices rebounded slightly to $524.24, up from earlier this morning, when they had sagged to a three-month low.
Mt. Gox Breaks Silence With Vague Statement, Confirms Transaction Freeze
A statement released today by Mt. Gox on its website.
Kim Lachance Shandrow

Written By

Kim Lachance Shandrow is the former West Coast editor at Entrepreneur.com. Previously, she was a commerce columnist at Los Angeles CityBeat, a news producer at MSNBC and KNBC in Los Angeles and a frequent contributor to the Los Angeles Times. She has also written for Government Technology magazine, LA Yoga magazine, the Lowell Sun newspaper, HealthCentral.com, PsychCentral.com and the former U.S. Surgeon General, Dr. C. Everett Coop. Follow her on Twitter at @Lashandrow. You can also follow her on Facebook here