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Massive Bitcoin exchange mysteriously and suddenly halts all exchanges; is a collapse imminent?

Posted: February 25, 2014 |   Comments

( Mt. Gox, which was once the largest Bitcoin exchange by volume, went dark on Tuesday in what could be a critical blow to the virtual currency. The following message was posted by the Mt. Gox team on the website:

"In light 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."

Withdrawals from Mt. Gox were halted earlier this month after the company detected "unusual activity." The chief executive of the Bitcoin exchange told Reuters on Tuesday that the business was "at a turning point."

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