The Largest Bitcoin Exchange In The World Is Down

Mt. Gox, the largest Bitcoin trading site in the world, is down.

It appears possible to get in through their support page, but the main page is not working.

Their Twitter site is basically a bot, so we likely won’t know what went wrong until the site’s back up and running.

The group behind the site, which is based in Japan but run by Americans, ran into some legal trouble earlier this year. In May, the Feds seized bank accounts worth $US5 million registered in Maryland to Mt. Gox and its head Mark Karpeles.

That, along with trouble from Japanese banking regulators, has caused a huge delays in processing withdrawals to Mt. Gox customers.

Wired’s Robert McMillan and Cade Metz have a great new interview with the site’s executives, in which we learn, among other things, that Mt. Gox originally stood for Magic: The Gathering Online Exchange.

But it also includes an admission by Bitcoin millionaire and friend of Karpeles, Roger Ver, that Mt. Gox’s difficulties should be making people way more suspect about trading on the site.

“They just think Mt. Gox is the biggest and the best, and they don’t know,” he told Wired regarding new customers.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at