Mt. Gox Implodes, Putting Bitcoin's Future in Jeopardy

It's been a heady few hours for Bitcoin. The crypto currency was trading at around $500 at the time of writing, which is not a disaster, but off more than 50% from its late-2013 highs. More ominously, a document supposedly leaked by Mt. Gox, the Japan-based Bitcoin exchange, warns that "this could be the end of bitcoin." So what's going on?

Mt. Gox Crash

The Two-Bit Idiot, a well-known Bitcoin blogger, posted an update Monday night that purported to be a "Crisis Strategy Draft" from Mt. Gox. The document stated that because of a "transaction malleability" glitch, some 744,408 bitcoins — the equivalent of about $350 million — had gone missing Read more...