updated 08:29 am EDT, Fri July 5, 2013
Two-week downtime to implement new exchange system completed
Tokyo-based Bitcoin exchange Mt. Gox has re-enabled withdrawals in US dollars, following a two-week hold on payments. The resumption of normal service comes at the same time as the virtual currency exchange announces new relationships with "several new banking partners both in Japan and around the world," with more agreements also in progress
The hiatus of withdrawals took place while a new system underwent testing, After processing over $1 million in transactions in the period, Mt. Gox deemed it suitable for normal use. The two-week pause has also created a large backlog of transactions to overcome, which it says will be rectified within a few weeks. During the downtime, withdrawals and deposits in other currencies continued to operate normally.
The two-week outage has been the latest event in a turbulent year for the exchange. It has previously lost access to the Dwolla payment service after an investigation by the Department of Homeland Security, is being sued by CoinLab for $75 million, and is under various other investigations and attacks.