Bitcoin Forum

MtGox closes. First person to see the message on Gox site add link.

Bet you 1 BTC that Mt. Gox does not close. and that withdrawals are restored.

Don't bet with me, bet with the market. Buy bitcoins now. I am in fiat and believe Gox will do what Gox always does - fail. It's a joke they are still around.

I have coins on all 4 different markets and fiat... Sounds like your not to confident in Mt. Gox failing

I am, that's exactly the reason why I have no Bitcoins right now. But I'm sorry for your loss if Gox indeed closes and the coins disappeared.

Has everyone forgotten that this happened in 2012 before?

Their custom bitcoind corrupted their copy of the blockchain and they had to redownload it and withdrawals were closed for 2 days. I am too lazy to link you but search and you'll find it. I don't think they are going anywhere.

Were have you been all of 2013? This is not 2012 anymore. Gox had withdrawel issues like crazy for the past months.

Tell me something new. Gox have had withdrawal issues since the day they opened. Thats just how they do business - badly.

Nothing abnormal going on here, just Gox being Gox. I don't think they are going anywhere.

Tell me something new. Gox have had withdrawal issues since the day they opened. Thats just how they do business - badly.

Nothing abnormal going on here, just Gox being Gox. I don't think they are going anywhere.

That is why I NEVER deposit any cryptos into Gox :P

I always though, that they work like a shit.

Newbies and Jr Members say Gox will not fail.
Sr Members and Hero Members say Gox will fail.

Hmmmmm

Sounds like the newer members bought in too high and hoping for a miracle, which I believe will not happen. I do not think Gox will close any time soon, but they will not restore withdrawals in a timely matter.

What does being a Sr. Member and a newbie have to do with anything, I have been trading an following Bitcoin sense 2010, + NY stock ex for 13 plus years. And visting this forum for a few years... But im a total newb?

It's now past noon here in Japan and not a peep from Gox. Yup, sounds like things are going well!

Here is the original mtgox thread. Just read it and you will understand :)

https://bitcointalk.org/index.php?topic=444

Hey, I was thinking about that thread yesterday and wondered how hard it would be to find, thanks.

The link you supplied has no proof to it what so ever. Complete fud and speculation

Oh no! Nasty gox! I still want my cheap coins @ $600 :)

Mark is sitting on his ball enjoying his dessert coffee not caring about you all.  ;D

It's now past noon here in Japan and not a peep from Gox. Yup, sounds like things are going well!

The news from MtGox say that the bug is in the bitcoin software, and not exclusively in MtGox's wallet.
This is the worst news in recent history, and the impact on the market could be comparable to the 2011 hacking of MtGox.

The way I read it is that it's a known issue but it hasn't caused any real problems so far. Now it has, so now they have to fix it. It doesn't seem to require a hard fork or anything like that, so I really doubt the impact will be comparable to the 2011 hacking event.

We don't know how long it will take to fix it. I'll keep an eye on the Developer section, but for now nothing on this issue.
In the meantime, the coins stolen from MtGox (and possibly other exchanges) by exploiting this security flaw are probably going to be dumped or spent.
The market was already in bear phase (wave C), but a mild one. With confidence broken, it could turn into a harsh one.

Oh no! Nasty gox! I still want my cheap coins @ $600 :)

So Gox now officially became a wallet service ?

So Gox now officially became a wallet service ?

1.Create MtGox account
 2.Enable 2FA
 3.Send BTC to MtGox And you are finished,

MtGox - Your new cold storage solution
Setup:
  no one will able to get to your coins, they are perfectly safe. /s

is it realy working or this is just some joke? :)

Dear MtGox Customers and Bitcoiners,

As you are aware, the MtGox team has been working hard to address an issue with the way that bitcoin withdrawals are processed. By "bitcoin withdrawal" we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions to any MtGox bitcoin address, and currency withdrawals (Yen, Euro, etc) are not affected by this issue.

The problem we have identified is not limited to MtGox, and affects all transactions where Bitcoins are being sent to a third party. We believe that the changes required for addressing this issue will be positive over the long term for the whole community. As a result we took the necessary action of suspending bitcoin withdrawals until this technical issue has been resolved.


Addressing Transaction Malleability
MtGox has detected unusual activity on its Bitcoin wallets and performed investigations during the past weeks. This confirmed the presence of transactions which need to be examined more closely.


Non-technical Explanation:
A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. MtGox is working with the Bitcoin core development team and others to mitigate this issue.


Technical Explanation:
Bitcoin transactions are subject to a design issue that has been largely ignored, while known to at least a part of the Bitcoin core developers and mentioned on the BitcoinTalk forums. This defect, known as "transaction malleability" makes it possible for a third party to alter the hash of any freshly issued transaction without invalidating the signature, hence resulting in a similar transaction under a different hash. Of course only one of the two transactions can be validated. However, if the party who altered the transaction is fast enough, for example with a direct connection to different mining pools, or has even a small amount of mining power, it can easily cause the transaction hash alteration to be committed to the blockchain.

The bitcoin api "sendtoaddress" broadly used to send bitcoins to a given bitcoin address will return a transaction hash as a way to track the transaction's insertion in the blockchain.
Most wallet and exchange services will keep a record of this said hash in order to be able to respond to users should they inquire about their transaction. It is likely that these services will assume the transaction was not sent if it doesn't appear in the blockchain with the original hash and have currently no means to recognize the alternative transactions as theirs in an efficient way.

This means that an individual could request bitcoins from an exchange or wallet service, alter the resulting transaction's hash before inclusion in the blockchain, then contact the issuing service while claiming the transaction did not proceed. If the alteration fails, the user can simply send the bitcoins back and try again until successful.

We believe this can be addressed by using a different hash for transaction tracking purposes. While the network will continue to use the current hash for the purpose of inclusion in each block's Merkle Tree, the new hash's purpose will be to track a given transaction and can be computed and indexed by hashing the exact signed string via SHA256 (in the same way transactions are currently hashed).

This new transaction hash will allow signing parties to keep track of any transaction they have signed and can easily be computed, even for past transactions.

We have discussed this solution with the Bitcoin core developers and will allow Bitcoin withdrawals again once it has been approved and standardized.

In the meantime, exchanges and wallet services - and any service sending coins directly to third parties - should be extremely careful with anyone claiming their transaction did not go through.

Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin.


Conclusion
To put things in perspective, it's important to remember that Bitcoin is a very new technology and still very much in its early stages. What MtGox and the Bitcoin community have experienced in the past year has been an incredible and exciting challenge, and there is still much to do to further improve.

MtGox will resume bitcoin withdrawals to outside wallets once the issue outlined above has been properly addressed in a manner that will best serve our customers.

More information on the status of this issue will be released as soon as possible.

We thank you for taking the time to read this, and especially for your patience.

Best Regards,
MtGox Team

while known to at least a part of the Bitcoin core developers and mentioned on the BitcoinTalk forums