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Withdrawals at Mt. Gox to Resume ‘Soon’ With New Fix in Place

Avatar newsbtc 6 years ago

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As expected, Tokyo-based Mt. Gox delivered a new update on the status of withdrawals Monday morning, and the news could be considered both good and bad.

The good news

Gox has stated (even with their last announcement on Saturday) that they’ve implemented a solution that will prevent abuse of their system:

Thanks to our friends at Blockchain.info, MtGox now has a workaround that will use a unique identifier created by Blockchain to show whether transactions have been modified or not. This will prevent any fraudulent use of the malleability issue and protect the assets of our customers.

The bad news

Unfortunately for users, the exchange hasn’t provided a date when withdrawals will resume. The company is simply stating they will recommence “soon”.

Gox will need to run through an array of tests in order to turn withdrawals back on, which include re-indexing the blockchain, deploying the new unique identifier, and implementing a new withdrawal queue.

When the withdrawal gates do open, Mt. Gox will be imposing daily and monthly limits, according to their statement.

Mt. Gox also included in their statement information regarding a new login system, which sends a user an email message when their account has been logged in to. A number of users on social sharing website Reddit.com yesterday recalled receiving such messages with logins from distant Asia.

Gox is expected to make a follow-up statement on the current drama on Thursday.

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