Virtual currency exchange Vircurex says large fund withdrawals over the past several weeks have led to a “complete depletion” of funds.
MtGox says it found 200,000 Bitcoins in an old-format online wallet and has updated its software to prevent so-called transaction malleability attacks that led to its bankruptcy filing.
The hackers accessed a massive database and 716 megabyte file detailing over a million trades, among other things, and posted it to Karpeles’ personal website.
The Bitcoin Foundation addresses the recent media frenzy over the currency’s creator: “[Bitcoin is] ultimately controlled by no one.”
Two distinct schools of thought have emerged about Bitcoin: It is a stable and decentralized currency or it’s a junk fiat currency.
After shutting down this week to “protect the site” and its users, the MtGox Bitcoin exchange announced this morning that it’s officially filing for bankruptcy protection.
Twitter testing a major profile redesign that looks a lot like Facebook. Bitcoin Exchanges halt withdrawals. These stories, and more, in today’s Morning Social Media Newsfeed.
With a finite supply, there may be an upper cap to Bitcoin — but the cat is out of the bag in terms of decentralized, encrypted, non-regulated currency.
Earlier this month, a US Senate committee described virtual currencies as a “legitmate financial service” and since then the value of a single bitcoin has surpassed $1,000. In January, it was trading at $20.
The topic of Bitcoin is being discussed by several major news outlets and has piqued the interest of Wall Street and the finance community. Now, the Bitcoin community will be excited to learn that the team at Project Bitcoin has recently launched a campaign on Kickstarter to gain funds to support the creation of “Bitcoin: The Movie.” Detailed information about the campaign and movie can be found on Kickstarter.