Mt. Gox temporarily suspends USD withdrawals

Mt. Gox, which handles 69% of all bitcoin transactions, has suspended US dollar withdrawals for two weeks in order to make technical improvements.

AccessTimeIconJun 20, 2013 at 10:25 a.m. UTC
Updated Sep 10, 2021 at 10:53 a.m. UTC

Mt. Gox has just announced it is temporarily suspending withdrawals of US dollars. It states it has had to take this measure in response to a growing volume of deposits and withdrawals from what it calls "established and upcoming markets interested in Bitcoin".

In turn, it says this has made it difficult for its bank to process the corresponding transactions in a timely manner.

The announcement from the bitcoin exchange goes on to say improvements are being made to the way USD transactions are processed and that the current suspension will last for just two weeks.

Furthermore, the company states it is still accepting USD deposits and will continue to honour withdrawals in other currencies.

has faced a tumultuous time of late. The US Department of Homeland Security recently prevented the mobile payment service Dwolla from exchanging funds with Mt. Gox. It has also faced mounting pressure from both legal and hacker sources and was the subject of a recent hoax involving a fake email referring USD transactions.

Despite all that, Mt. Gox appears to be optimistic about the future, given the exchange's recent advert in the G8 Summit magazine.


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