Bitcoin Goes Dark with MtGox Shut Down

Feb 25, 2014 (Wed): MTGox, one of the most popular online Bitcoin exchanges, went offline without an explanation on Tuesday, just two days after its CEO resigned from the board of the international group that oversees the currency, Telegraph reports. However, MtGox just released a statement in its website – “Dear MtGox Customers, in light of recent news reports and the potential repercussions on MtGox’s operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.”

According to Business Insider Malaysia, Bitcoin prices worldwide are sliding and are flirting with dipping below US$500 for the first time in months after trading on MtGox has been halted.