After a series of disaster ensued, Mt.Gox has gone MIA (Missing In Action). A year ago, they hold almost 80% of bitcoin trading, but recent turmoils have left it with less than half of it.

After a series of disaster ensued, it seemed bitcoin exchange Mt.Gox has gone MIA (Missing In Action). A year ago, they hold almost 80% of bitcoin trading, but recent turmoils have left it with less than half of it. According to Bitcoincharts, by February 2014 Mt.Gox possessed at least 28% market share among other bitcoin exchanges. It was the second largest after bitstamp (29%), and together with BTCe (21%) made the top three. Now, A visit to the site showed a blank page with no message, no explanation, nothing.

Mt. Gox

Bitcoin experiences temporary shock earlier this month due to the hacking that dragged down several systems related to Bitcoin. The primadonna of digital currency experienced drastic decline in value soon after the news was out. However, the only one suffered greatly was Mt.Gox. Mt.Gox's system was said to be unable to handle the denial-of-services attacks, and so they stopped all bitcoin withdrawals with the promise of frequent updates on repairs.

This raised speculation several times afterward, but as time goes on and no resolves found, forex brokers discarded Mt.Gox and leave for other bitcoin exchanges for price reference. The reason was wide divergence of price between Mt.Gox and other exchanges. Bitcoin price in Mt.Gox tumbled under $100, while the price of bitcoin in bitstamp and BTCe was much higher.

Then yesterday, Mt.Gox chief Mark Karpeles resigned from Bitcoin Foundation Board of Directors. Bitcoin Foundation announced the resignation in their blog without any explanation, but promised that further details will be forthcoming. Just as we are preparing our report on the topic, came the most surprising news: Mt.Gox's website has gone offline. Around the same time, six chiefs of bitcoin operators, Coinbase, Kraken, bitstamp, BTC China, Blockchain, and Circle, released a joint statement that throws Mt.Gox out of bitcoin community. In short, they regard Mt.Gox violation of trust toward its clients as a bad weed in the industry, and in the next paragraph pledge to re-establish the trust squandered by the failings of Mt.Gox.

Well, that's the story. We are sorry for Mt.Gox and its clients. Hope you'll soon find some good news over the rainbow.