23 March 2017
visit nextgenbanking.co.uk

Mt. Gox promises to resume withdrawals 'soon'

17 February 2014  |  873 views  |  0 Source: Mt. Gox

We apologize for the inconvenience caused by the recent suspension of external bitcoin transfers. Fortunately, as we announced on Saturday we have now implemented a solution that should enable withdrawals and mitigate any issues caused by transaction malleability (please see our previous statements for details on this issue).

Thanks to our friends at Blockchain.info, MtGox now has a workaround that will use a unique identifier created by Blockchain to show whether transactions have been modified or not. This will prevent any fraudulent use of the malleability issue and protect the assets of our customers. 

Resuming Withdrawals!

With this new system in place, MtGox should be able to resume withdrawals soon. At the beginning we will do so at a moderated pace and with new daily/ monthly limits in place to prevent any problems with the new system and to take into account current market conditions. 

In order to launch the new system, we are going through the following steps:

- Re-indexing the entire Blockchain (approx. 32 million entries)
- Fully deploying the new NTX ID"
- Implementing a new bitcoin withdrawal queue that needs to be tested

We will update everyone again by Thursday at the latest. 

Additionally, you may have noticed that we have added a new login system that sends you an email when you successfully access your account. This is an additional security layer, but as always we strongly encourage our customers to use the 2-step authorization options available in our Security Center. 

Thank you again for your support, and we look forward to resume bitcoin withdrawals as quickly as possible. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.comParticipate in the survey

Top topics

Most viewed Most shared
Bank of England sets up fintech Community; runs blockchain and AI trialsBank of England sets up fintech Community;...
16141 views comments | 33 tweets | 26 linkedin
hands typing furiouslyMachine Learning: Lessons for Banks From S...
10061 views 0 | 11 tweets | 8 linkedin
Samsung Galaxy S8 to use facial recognition for payments - BloombergSamsung Galaxy S8 to use facial recognitio...
8416 views comments | 35 tweets | 28 linkedin
satellite26 Japanese banks register for Exchange-ru...
7463 views comments | 2 tweets | 1 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
7402 views comments | 21 tweets | 36 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job