Mt. Gox ‘suspends’ US dollar withdrawals

In an announcement made late last week, Mt. Gox said that they have temporarily halted US dollar withdrawals from the exchange due to increased volume and the pressure this has placed on their banking partners.

Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.

We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks.

Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed.

Shortly after the announcement Mt. Gox issued a further statement via their Facebook page to ‘clarify’ the situation. In the statement they assure customer that their funds are “safe, sound and accounted for” and that they are “working with new banks and alternative methods for transmitting money” to improve the situation.

 

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