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Bitcoin’s Oldest Exchange, Now in Shambles, Suspends Payouts


U.S. regulators have seized more than $5 million of the company’s money. Customers report month-long delays in getting their U.S. dollars out of the exchange. And now a technical glitch has prevented the exchange from paying out in bitcoins too, effectively locking away customer assets until further notice.

Early Friday morning, Mt. Gox said it needed to suspend Bitcoin payouts in order to fix a technical glitch in its trading platform. The company promised an update on Monday, but didn’t explain exactly what the issue was. Over the past week, complaints about Mt. Gox’s bitcoin payout problems have gown louder as the queue of unfulfilled withdrawals has grown longer and longer.

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