Has This Company Found a Workaround for Mt. Gox Withdrawals?
A new market will allow Mt. Gox customers to trade funds in their exchange accounts for bitcoin, effectively allowing bitcoin withdrawals despite an official freeze. The service, Bitcoin Builder, has also created an arbitrage opportunity for traders who wish to exploit the growing spread between the price of bitcoin on Mt. Gox and other major exchanges. According to the market's founder Josh Jones, some 14,500 BTC (about $8.1m) worth of trades have been executed since it was set up on 11th Feb. A widening spread. Bitcoin Builder works by taking advantage of the widening spread between the....
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Mt. Gox has issued an official statement saying it has found a workaround for its bitcoin transaction malleability problems, which will see bitcoin withdrawals resume "soon". This comes after the team worked over the weekend to begin implementation of a new transaction system. It said the workaround was "thanks to our friends at Blockchain.info", with Blockchain's Andreas Antonopoulos and Ben Reeves "working like crazy" over the past week to help the company get things stabilized again. While some might regard the two as Mt. Gox's rivals, it is another example of different interests within....
As expected, Tokyo-based Mt. Gox delivered a new update on the status of withdrawals Monday morning, and the news could be considered both good and bad. The good news. Gox has stated (even with their last announcement on Saturday) that they've implemented a solution that will prevent abuse of their system: Thanks to our friends at Blockchain.info, MtGox now has a workaround that will use a unique identifier created by Blockchain to show whether transactions have been modified or not. This will prevent any fraudulent use of the malleability issue and protect the assets of our customers. The....
Since June 2013, the bitcoin exchange Mt. Gox has been struck by severe problems with fiat currency withdrawals. According to their press release of June 20th, cash withdrawals would be suspended for 2 weeks. On July 4th, a press release stated that withdrawals had fully resumed. Despite this positive tone, it was shortly noted by the user community that few withdrawals seemed to be occurring in a timely manner. Queries to Mt. Gox support since that time have normally been answered with a statement that it is taking several weeks for withdrawals and to please be patient. Unfortunately, as....
On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra whistleblower called Fatman warned people about Hodlnaut’s alleged issues.
Another Crypto Platform Freezes Operations Citing Recent Market Conditions
Another crypto exchange and lending platform, called Hodlnaut,....
Bluebenx, a Brazil-based cryptocurrency investment platform, suspended withdrawals last week due to an alleged hack that made the company lose more than $31 million. The company announced that the withdrawals would be stopped for at least six months. The company has been investigated by the Brazilian Securities and Values Commission (CVM) in January.
Bluebenx Stops Withdrawals, Allegedly Loses $31+ Million in Hack
A Brazilian cryptocurrency investment platform, Bluebenx, paused withdrawals in its platform last Thursday, affecting approx 2,500 customers in the process. The company....