MtGox Issues Update on Website: No News is Bad News

After speculation arose earlier in the day that a pending announcement from MtGox was forthcoming after they took their website and Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term offline earlier today, the website has again sprung back to life. However, as opposed to rumors of a buyout, only a short announcement from MtGox has surfaced as they stated:

Dear MtGox Customers, In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly. Best regards, MtGox Team

As per earlier analysis of the situation, the current update has done little to assure anyone that the company isn’t insolvent or that customer funds are safe. The contrary appears to be the situation as the statement failed to address the status of client accounts. As such, suspicions of fraud continue to exist.