25 Feb '14, 7am

Bitcoin's price plummets as Mt. Gox goes dark

Bitcoin's price plummets as Mt. Gox goes dark

fell close to 23% from its already battered price to around $418 at its lowest point Monday night as the oldest and once-largest Bitcoin exchange went offline completely, showing a blank website and even deleting all messages from its Twitter feed. That dramatic drop in Bitcoin’s price, in fact, doesn’t even factor in the digital currency’s exchange rate on Mt. Gox itself, where Bitcoins were selling for less than $200 as users feared that they wouldn’t be able to retrieve coins they’d bought due to the company’s potential bankruptcy. And while the company went silent, rumors have swirled that its downtime is a result of a massive hack that has stolen as many as 744,000 bitcoins, fully 6% of all bitcoins in existence.

Full article: http://www.forbes.com/sites/andygreenberg/2014/02/25/bitc...

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