Bitcoin exchange Mt. Gox announced on Saturday that they would be having a six-hour planned downtime on all bitcoin deposits and internal transfers.
The temporarily halt on the deposits and transfers are taking place now (6PM-12AM JST).
According to the Tokyo-based exchange, the downtime will allow for the implementation of fix to the transaction malleability flaw that brought down customers’ ability to withdraw funds out of the exchange.
Gox notes that the downtime window is only an approximation, and perhaps more importantly, makes note of the fact that it will be another stretch of time before withdrawals are opened up again, as testing needs to be conducted.
What’s interesting here is that Mt. Gox says their solution should work short-term, which is likely to raise more questions about the long-term stability of the world’s first bitcoin exchange.
BlockChain.info have implemented changes to address the malleability issue. Our solution should work in the short term, while a longer-term solution is being discussed with the Bitcoin Core Dev team and the Bitcoin Foundation. We are also discussing this with other exchanges and businesses.
Gox is expected to make another statement on the matter on Monday. We’ll have that information for you just as soon as it becomes available.