Mt. Gox Comments on Bitcoin Withdrawal Delays
A number of users over at the popular Mt. Gox bitcoin exchange have reported issues with withdrawing their bitcoins lately, it has not surprisingly started a number of conspiracy theories and general panic amongst some members of the community. The Tokyo, Japan-based exchange has come forward as of Friday, January 31st to release a statement on the matter of bitcoin withdrawal situation. According to the company, the issues is "only affecting a limited number of users and transactions". Mt. Gox sya they're "working hard" to resolve the problem. From the statement: We ask for your patience....
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While these issues affect centralized exchanges, peer-to-peer trading continues to soar. It appears as if Chinese bitcoin exchanges are dealing with more withdrawal delays right now. A recent post on Reddit shows an email sent out by BTCC explaining they are upgrading their verification system. Bitcoin and Litecoin withdrawals have been suspended until March 15. That is quite surprising, although it highlights a bigger problem for the exchange. Changing from a 10-day delay to a full month is rather disconcerting. Most people are aware of how BTCC imposed a 10-day delay on cryptocurrency....
Click here to fill in our brief poll. Once the biggest exchange by market share, Mt. Gox looms over the bitcoin economy. But the Tokyo-based exchange has lost its dominant position and complaints about its service from customers are growing louder. Although delays in routine transactions like withdrawals are to be expected of any fast growing startup, the number of complaints about withdrawal delays at Mt. Gox have been mounting. The thread dedicated to the topic at Bitcoin Talk, for example, has accumulated more than 3,300 posts. Forum members have complained about withdrawals taking....
Just days following an explanation that withdrawal delays were only affecting some customers, all users of the Japan-based bitcoin exchange Mt. Gox will be unable to withdraw their money, according to a statement released today. "In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state," the statement reads. "In order for our team to resolve the withdrawal issue it is....
Coinbase users saw a frustrating Wednesday this week after outbound bitcoin transactions experienced delays while not registering on the blockchain. A Coinbase log revealed that the issue was identified early Wednesday, around 01:40 PDT. “We have identified an issue with slow BTC outbound transactions and are working towards resolution,” the log read. The San Francisco-based bitcoin exchange and wallet provider issued an update a little over three hours later at 04:52 PDT, stating: Outgoing transactions are not being pushed to the Bitcoin network. We are still working on resolving this....
Following the lead of two of the market's more prominent exchanges, at least six other China-based bitcoin exchanges have announced updates to withdrawal policies as part of a bid to tighten AML oversight. Announced today, BitBays, BTC100, BTCTrade, CHBTC, HaoBTC and Yunbi have all enacted changes to their withdrawal capabilities, a move that comes days after the exchanges were called to meet with the Beijing office of the People's Bank of China (PBoC), China's central bank. Notably, the policies issued differ from the more stringent halt of bitcoin and litecoin withdrawals imposed by....