All Mt. Gox Twitter Posts Removed

Mt. Gox has now removed all posts from its official Twitter feed, unnerving many customers and causing more speculation.

AccessTimeIconFeb 24, 2014 at 7:30 a.m. UTC
Updated Sep 14, 2021 at 2:09 p.m. UTC

In a move sure to unsettle its waiting customers, Mt. Gox has removed all posts from its official Twitter feed. Readers started noticing the missing tweets just a short time after CEO Mark Karpeles resigned his seat on the Bitcoin Foundation's Board of Directors.

The Twitter account has over 27,800 followers, making it one of the most followed in the bitcoin universe. According to Twittercounter, that total had increased from around 22,000 at the beginning of January. Although all past posts have been deleted, the account itself still exists.

CoinDesk - Unknown

Gox_Twitter

Like the company itself, Mt. Gox's Twitter feed was somewhat reluctant to disseminate useful information or engage in two-way communication. Many user support queries received automated responses (usually beginning with "Dear Customer") and sometimes weeks later. It has been silent throughout the company's recent issues with bitcoin withdrawals.

There have not been any official updates on Mt. Gox's support page or News section since 20th February, making customers increasingly nervous about the fate of their bitcoin wealth there. Mt. Gox bitcoins, which are still being actively traded, fell from around $300 at the start of 24th February (Japan time) to a low of $155 in the afternoon.

Motivation

With speculation already rampant that Mt. Gox is either insolvent or about to close its doors without reaching an acceptable solution, widespread skepticism met the deletions on forums like Reddit.

Some wondered if the company was preparing to rebrand itself in an attempt to regain trust, while others suggested removing public messages was for a small degree of legal protection in case customers decided to take action beyond office protests. A straw poll on the bitcointalk forum had 43% declaring Gox "dead in the water" and 23% expecting it to solve its problems and survive, with a minority of others expecting a major investor to step in and take over the company.

The notoriously secretive exchange may also just be following its long held pattern of falling silent in a crisis, due to legal concerns or what it regards as office security issues. It also announced it would be moving offices last week in response to recent events, without being clear as to why such action was necessary .

Until Mt. Gox makes another formal announcement or takes some other kind of definite action, however, all speculation must remain just that.

Twitter image via Shutterstock

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
2
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
3
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
4
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown