Major Bitcoin Exchange Vanishes


Maybe Bitcoin isn't the way of the future? Concerns about the virtual currency’s security intensified after it appears one of the largest exchange websites went offline due to a crippling theft. The Tokyo-based Mt. Gox site only returned a blank page on Tuesday after reportedly suffering from a massive loss of Bitcoins. This follows the Sunday resignation of Mt. Gox CEO Mark Karpele. The company internally issued a “Crisis Strategy” report, which claimed 740,000 Bitcoins were missing, which equates to $350 million at its current exchange rate. The theft apparently went unnoticed for several years, and a single Bitcoin's value has fallen from $550 to $470 in just a matter of hours.