Mt. Gox halts USD withdrawals

By Saturday, June 22, 2013 0 , , Permalink 0

According to Mt. Gox the exchange has experienced a huge number of requests for deposits as well as withdrawals from both established markets as well as new markets following which its bank hasn’t been able to process transactions on time in a smooth manner which has led to difficulties for its overseas clients especially those in the US.

In a statement on its website Mt. Gox said, “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.”

The exchange reassured that the deposits in USD, transfers to Mt. Gox, deposits and withdrawals in other currencies will remain unaffected during this period. Mt. Gox will be resuming the USD withdrawals for its US clients once the improvement of its systems is complete. The exchange hasn’t detailed what kind of improvements it is performing but the last line of the statement on its website indicates that the improvements are coming in its trading engine.

“We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon.”