Head of troubled bitcoin exchange still in Japan

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Associated Press

Posted on February 26, 2014 at 11:32 PM

Updated Thursday, Feb 27 at 2:06 AM

TOKYO (AP) — The head of troubled bitcoin exchange Mt. Gox says he is still in Japan and "working very hard" to find a solution to the Tokyo-based organization's problems.

The exchange has suspended trading and its website went blank Tuesday, sparking speculation that it has collapsed.

CEO Mark Karpeles says in two paragraph post on the website that he has the support of different parties in finding a "solution to our recent issues."

Bitcoin is an online currency that allows people to make transactions across borders without involving third parties such as banks or credit card issuers.

Karpeles asks that people refrain from asking questions of Mt. Gox staff.

The apparent collapse of Mt. Gox is raising questions about the future of the virtual currency.

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