Another Bitcoin Exchange on the Verge of Bankruptcy Halts Withdrawals


Following on the heels of the Mt.Gox bankruptcy another Bitcoin exchange is on the verge of bankruptcy. Vicurex is based out of China and they are putting a freeze on all their customer accounts.

Electronista covered the story,

Another Bitcoin exchange has run into financial problems following in the wake of other recent turmoil surrounding the currency after the collapse of Mt. Gox. Vircurex, based in Beijing, is faced with insolvency causing the company to immediately halt withdrawals. Starting March 24th the company will put a freeze on all customer accounts.

Vircurex suffered two breaches last year resulting in an undisclosed loss of Bitcoin and other cryptocurrencies. The company had been attempting to reimburse to customers using their own cold storage reserves. According to a posting on their front page, a number of “large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance.”

Read the full article here

Comment Policy: welcomes reader comments. Please follow these simple rules:

  • Stay on topic
  • Refrain from personal attacks
  • Avoid profanity
  • Links should be related to the topic of the post
  • No spamming. Listing domains, products, or services will get the comment deleted

We reserve the right to remove comments if we deem it necessary.

Join the Discussion