20 Sep '13, 11pm

With current processes, Mt. Gox USD withdrawals could take 22 months. #bitcoin

With current processes, Mt. Gox USD withdrawals could take 22 months. #bitcoin

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 of today, withdrawals of USD via wire transfer are still substantially delayed. Mt. Gox has refused to provide estimates of when these withdrawals might occur. While this has fueled speculation about potential insolvency of Mt. Gox, withdrawals in other currencies appear to be occurring f...

Full article: http://bitcoinmagazine.com/7064/with-current-processes-mt...

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