The Business Times
The Business Times
Subscribe
View more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN
SUBSCRIBERS

Bitcoin plunges after software bug forces withdrawal halt

Published Tue, Feb 11, 2014 · 10:00 PM
Share this article.

[NEW YORK] The price of the digital currency bitcoin has slid to its lowest level in nearly two months after bitcoin digital marketplace Mt Gox said a halt on withdrawals it announced on Friday would continue indefinitely following the detection of "unusual activity".

The bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt Gox, the best known operator of a bitcoin digital marketplace, recording one of the biggest drops for the day.

On the Mt Gox platform, the currency plunged to as low as US$500 early on Monday, down more than 27 per cent from Friday's final price of US$692, according to the Mt Gox website.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

New Articles

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here