The world’s largest bitcoin trading site MT.GOX filed for bankruptcy protection

The Economic Observer reporter Hu Zhongbin

in February 25th, bitcoin senior game player said, MT.GOX is the world’s largest bitcoin trading platform due to loopholes in the system loss of a large number of bitcoins cannot make up for the loss of customers and filed for bankruptcy protection. A number of trading sites including domestic bitcoin trading site BTC China, is also dedicated to "MT.GOX bankruptcy" issued a joint statement (a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox).

and according to the Wall Street Journal reported earlier, bitcoin exchange Mt.Gox CEO Mark Karpeles has announced the withdrawal of the fund in the blog.

as for the reasons for leaving Karpeles, he did not disclose. But the foreign media speculation that there is a certain relationship between the security vulnerabilities and Mt.Gox appear continuously. It is understood that Mt.Gox is currently facing a series of long-term technical problems. These issues began to appear last summer, when Mt.Gox suspended the customer to withdraw u.s..

to earlier this month, the problem became more serious, Mt.Gox stopped all customer withdrawals, said bitcoin software vulnerabilities so that some users can change the transaction. Affected by the suspension of trading, Mt. Gox platform bitcoin transaction price fell to $100 last week.

Mt.Gox was released in a statement said: "there is a bitcoin software vulnerabilities, hackers can use this vulnerability to modify the transaction information, such as having a bitcoin transaction occurred already looks like never happened…… This causes the system to re send bitcoins……"

bitcoin foundation "(Bitcoin Foundation) is an advocate of virtual currency industry organization, a board member of the organization in some industry representatives, Karpeles is one of the three people in the industry recommend selection of the board of directors of the.

and affected by this, the price of bitcoin has been a greater volatility. The domestic bitcoin transaction price is currently about 3300-3500 yuan.

and Mt.Gox for the domestic bitcoin trading site BTC China and a number of foreign bitcoin website said in a statement: this bad fluctuation is trusted by Mt.Gox users because of his company’s own implementation of hateful behavior results, but this cannot fully reflect the bitcoin digital currency and the value of the industry itself. There are hundreds of trustworthy and responsible bitcoin related businesses. These companies will continue to make bitcoin for consumer businesses, become more secure and easy to use. As with any new industry, there are bound to be some bad things that need to be removed, and that’s what we see today.

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