Investing.com - Bitcoin prices lost half their value to hit
USD230 on the Tokyo-based Mt. Gox Exchange on Sunday, as traders
shied away from the virtual currency amid ongoing concerns over
BTC/USD fell to a session low of USD220.30 on Mt. Gox, before
trimming losses to trade at USD253.90 during U.S. morning hours,
Tokyo-based Bitcoin exchange Mt. Gox was forced to halt all
Bitcoin withdrawals on February 7 due to a technical issue, with
the issue yet to be fully resolved.
Mt. Gox was once the world's largest Bitcoin trading exchange,
with volume topping 1 million trades a day at its peak. It is now
the third-largest Bitcoin exchange.
Meanwhile, sentiment remained jittery after Bitcoin marketplace
Silk Road 2 was hacked over the weekend, with hackers stealing
approximately 4,500 Bitcoin worth nearly USD2.7 million in the
latest development to roil the virtual currency.
The hackers exploited the transaction malleability bug, the same
bug that forced Mt. Gox to halt all withdrawals.
Elsewhere, the price of a Bitcoin last traded at USD631.95 on
Slovenia-based BitStamp, while prices on BTC-e traded at USD596.20.
BitStamp is the world's largest Bitcoin exchange, while
Bulgaria-based BTC-e is the second-biggest.
BitStamp allowed redemptions to resume on Friday, three days
after the exchange halted customer withdrawals to deal with cyber
attacks against its platform.
According to the CoinDesk Bitcoin Price Index, which averages
prices from the major exchanges, prices of the crypto-currency
dropped 5.2% to hit USD611.75.
Bitcoin is digital cash for the internet and it is not backed by
a government or central bank to regulate or issue it. It can be
used to purchase goods and services from stores and online
Prices of the virtual currency soared to an all-time high of
USD1,241.10 on November 29. It was trading at USD100 in early
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App