OKPay suspends Bitcoin processing

OKPay - the payment processing company - has told customers it will stop processing bitcoin transactions.

AccessTimeIconMay 28, 2013 at 7:57 a.m. UTC
Updated Sep 10, 2021 at 10:47 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

OKPay - the payment-processing company - has told customers it will stop processing bitcoin transactions.

Providing customers with no more than a one-lined statement that reads: "Dear customers, we are currently suspending bitcoin processing," OKPay has left its partners and customers confused about what lies behind the decision.

Mt. Gox - the largest bitcoin exchange, based in Tokyo - released a statement to say it is stopping transactions accordingly but is unsure what is happening behind the scenes. The statement said:

"Mt. Gox has recently been informed by OKPay, one of our longtime partners, that they are planning to stop performing wire transfers to and from all Bitcoin exchanges, including Mt. Gox. OKPay is offering a solution, but in the meantime we want to make sure that Mt. Gox customers and the Bitcoin community are well-informed about this development. While we are not completely clear about the dates of the transition, we would like to make a couple of points clear:

  • We will soon stop accepting deposits via OKPay. This may take up to a couple of  weeks, but it will happen eventually.
  • Withdrawals to OKPay accounts will not be cut immediately, but will only be allowed up to the amount that OKPay users have deposited into Mt. Gox via OKPay. Beyond that amount there are other methods of withdrawal available.

Mt. Gox wishes the best to OKPay, and we look forward to working together more closely in the future. The Bitcoin economy is going through many changes recently, and we are positive that they will ultimately work themselves out in the best interests of the community and the World."


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about