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  • Things might've just gotten real for virtual currencyand it's not a good thing. Bitcoin's

  • largest exchange has disappeared from the Internetand its CEO is MIA.

  • "Mt. Gox has gone totally dark. If you try to load their website, you will not find anything.

  • Mark Karpeles, CEO of Mt. Gox ... He cannot be found.

  • He has resigned from the parent Bitcoin Foundation." (Via Bloomberg)

  • "Folks say they don't expect to get their money back. The six other leading bitcoin

  • exchanges are trying to distance themselves from Mt. Gox." (Via Fox Business)

  • According to the New York Times, the company lost almost 750,000 bitcoins to hackers, but

  • the theft went unnoticed for years. That's equal to about $350 million worth of bitcoins

  • and about 6 percent of the 12.4 million coins in circulation.

  • No one knows exactly how the coins were stolen and the company has yet to respond to requests for comment.

  • However, Wired believes it might have found a document with some answers.

  • The document is said to be an internal memo from Gox. It shows Gox knew it was subject

  • to theft but believed it could resolve it internally. Gox admits

  • 744,408 bitcoins have gone missing and it went unnoticed for several years.

  • The document goes on to outline a four-part strategy:

  • - Immediately reduce liabilities with partners

  • - Shut down Mt. Gox for one month while it is restructured & rebranded

  • - Change communications strategies to a more open format with constant updates

  • - Announce a new team of trusted business people and talented developers.

  • The document says the coins were stolen through a leak in the hot wallet, which is connected

  • to the web, that allowed hackers to exploit Gox's cold storage. In theory, this should

  • have been impossible because cold storageby definitionis disconnected from

  • the Internet. Though some believe the leak could have been caused by the hot storage

  • automatically refilling itself from the cold storage.

  • If the document is real, we may see Mt. Gox return at some pointalthough some see

  • the currency itself as fatally flawed.

  • Om Malik, founder of Gigaom, says he's not surprised it's getting ugly. He points to

  • the similar ambitions of virtual currencies Flooz and Beenz in the early 2000s.

  • They each had similar ambitions to Bitcoin only to flop when Flooz was investigated by

  • the FBI and Beenz fell apart following the burst of the dot com bubble.

  • The CEOs of several other Bitcoin exchanges released a statement saying the actions of

  • one company do not reflect the value of Bitcoin and the digital currency industry. In the

  • statement, they pledge to work together to re-establish trust in Bitcoin exchanges.

  • It remains unclear how many Bitcoins customers of Mt. Gox will be able to retrieve or when

  • they will be able to retrieve them.

Things might've just gotten real for virtual currencyand it's not a good thing. Bitcoin's

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B1 bitcoins document storage currency ceo unnoticed

Bitcoin Exchange Mt. Gox Disappears, Along With CEO 全球最大比特幣交易所的Mt. Gox傳破產 執行長行蹤不明

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