Gox Gone, Insolvent

[BitTrade]

Site is down, seemingly for good:

http://blog.blockchain.info/2014/02/25/joint-statement/

http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/

[igroock]

Gox website no longer loading...

[Revelations86]

Yup the site just went down.... hopefully for good. 

[btbrae]

...annnd it's gone?

[orpington]

Yes, but, is it still twitching? Careful..

[ChuckBuck]

Yes, but, is it still twitching? Careful..

Gox is like a cockroach, you have to squish it dead completely.

Love the joint statement by all the major players, that's like RAID to the bug.  Now we just need someone/something to stomp it to kingdom come!

[salstimda]

Yes, but, is it still twitching? Careful..

lol

[flipstyle]

Big surprise is big.

[bitfreak!]

Interesting comment under the blockchain.info statement:

John Marcus on February 25, 2014 at 3:25 am said:

Coinbase’s version of this statement omits any reference to insolvency. Also, the original title of your statement included the word ‘insolvency’, but has been removed (although the body of the text still includes it) – what’s going on?

John Marcus on February 25, 2014 at 3:27 am said:

    … and since I posted that reply above, the word ‘insolvency’ has been removed from the body of the text as well. Get your act together.

The circle article still has the world insolvency in the title and body of the statement though. And why is the first news of this insolvency coming from blockchain.info and not from Mt. Gox themselves? This is all very suspicious. And I thought blockchain.info was working with Mt. Gox to fix the malleability issue.

The fact that Mt. Gox could drag this out so long is despicable. They should have immediately halted trading from the moment they disabled withdrawals. The fact that they didn't only indicates that they were buying up coins on the cheap. And how could they continue taking deposits if withdrawals were disabled? This entire thing is mind blowing... a lot of people just got royally screwed by Gox and I feel sorry for them.

[DanielVG]

and that ladies & gentlemen was MTGox, bye bye.

[andyatcrux]

http://www.businessinsider.com/reports-mtgox-halts-all-trading-2014-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+TheMoneyGame+%28The+Money+Game%29

[relb]

Interesting comment under the blockchain.info statement:

John Marcus on February 25, 2014 at 3:25 am said:

Coinbase’s version of this statement omits any reference to insolvency. Also, the original title of your statement included the word ‘insolvency’, but has been removed (although the body of the text still includes it) – what’s going on?

John Marcus on February 25, 2014 at 3:27 am said:

    … and since I posted that reply above, the word ‘insolvency’ has been removed from the body of the text as well. Get your act together.

The circle article still has the world insolvency in the title and body of the statement though. And why is the first news of this insolvency coming from blockchain.info and not from Mt. Gox themselves? This is all very suspicious. And I thought blockchain.info was working with Mt. Gox to fix the malleability issue.

The fact that Mt. Gox could drag this out so long is despicable. They should have immediately halted traded from the moment they disabled withdrawals. The fact that they didn't only indicates that they were buying up coins on the cheap. And how could they continue taking deposits if withdrawals were disabled? This entire thing is mind blowing... a lot of people just got royally screwed by Gox and I feel sorry for them.

they removed the word "insolvency", and also in the last paragraph, this bold sentence was removed:

"Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers.  Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider."

[dewdeded]

gg Gox, been a ride

[faetos]

Here's some crisis docs that look kinda real - http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

[keithers]

The exchange website is probably next

[bbit]

Yes, but, is it still twitching? Careful..

lol

lolz

[dewdeded]

rebranding with 1 month downtime

[zeetu]

Circle.com still has the original insolvency joint announcement: http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/

[RockHound]

Here's some crisis docs that look kinda real - http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

Everyone thought this was FUD - Under the new re-structuring, those people who have funds (fiat/BTC) within Gox; do you think they give back to client base?

[dewdeded]

Circle.com still has the original insolvency joint announcement: http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/

But most sites removed it. So no insolvency now.
Maybe later. :-)