Mt Gox disappears, future of Bitcoin unknown

02-25-2014 • Next News Network

Bitcoin exchange Mt. Gox has disappeared from the internet. The owner cannot be found, and an office in Tokyo is suddenly empty. The owner, Mark Karpeles, resigned from the Bitcoin Foundation on Monday. That organization is the world's largest advocacy group promoting the digital currency. When Karpeles left the foundation, most investors believed it was to address security issues at the exchange. His departure left colleagues divided. Board member Elizabeth Ploshay said, "There's no hard feelings. Mt.Gox did the right thing." Six other exchanges wrote a press release that was critical of Karpeles. The statement read, "This tragic violation of the trust of users of Mt.Gox was the result of one company's abhorrent actions and does not reflect the resilience or value of Bitcoin and the digital currency industry."