Head of troubled bitcoin exchange still in Japan

1:47 AM, Feb 27, 2014   |    comments
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TOKYO (AP) -- The head of troubled bitcoin exchange Mt. Gox says he is still in Japan and "working very hard" to find a solution to the Tokyo-based organization's problems.

The exchange has suspended trading and its website went blank Tuesday, sparking speculation that it has collapsed.

CEO Mark Karpeles says in two paragraph post on the website that he has the support of different parties in finding a "solution to our recent issues." He did not say who they were, what the solution might be or when trading might resume.

Bitcoin is an online currency that allows people to make transactions across borders without involving third parties such as banks or credit card issuers.

Karpeles asks that people refrain from asking questions of Mt. Gox staff.

The apparent collapse of Mt. Gox has raised questions about the future of the virtual currency.

Associated Press

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