Massive Bitcoin Exchange Goes Offline; Hundreds of Millions Vanish

It’s not a good day for Bitcoin investors. One of the world’s largest exchanges of the electronic currency has mysteriously gone offline, with some reports saying that as much as $350 million has been stolen. The CEO of Tokyo-based Mt. Gox exchange resigned from the board of the Bitcoin Foundation this weekend.

After announcing they were moving offices because of “security problems,” the company deleted all of their tweets on Monday. For weeks, investors have been unable to withdraw or convert their Bitcoins to cash from the site. The trouble follows reports that because of security flaws, hundreds of millions were stolen and the company was preparing to file for bankruptcy. Currently, no one can find the company’s CEO to see what’s happened to the site and all of the money. According to a report from Reuters, “The concierge at the home of the chief executive, Mark Karpeles—an upscale apartment in the Shibuya district—said he was not answering his intercom. His mailbox was so stuffed with mail that the flap would not close” …

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