22 October 2017
Find out more

Mt. Gox promises to resume withdrawals 'soon'

17 February 2014  |  947 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 www.vasco.com visit www.atos.net

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10441 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9942 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9050 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8126 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7898 views comments | 10 tweets | 22 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job