Blockchain itself has stated:
The Blockchain staff will continue to collaborate with other industry leaders to establish better controls to ensure that events like this are not repeated. We are hopeful that together we can create a more trustworthy industry for the benefit of all existing and future Bitcoin holders.
However, as it is stated in the Mt. Gox Situation Crisis Strategy Draft, the damage had already been done.
The four parts strategy includes:
- Immediately reduce liabilities as much as possible with partners
- Switch off the MTGox exchange temporarily for one month while announcing a restructuring and re-branding
- Push the new branding and reset all SNS channels for communication
- Set up a competent team and redesign the service and codebase
However, Bitcoin owners have, no doubt, very mixed emotions with the whole debacle. Nevertheless, several sources have already confirmed the authenticity of the Crisis Strategy Draft document. The Bitcoin community watches how Mt. Gox will bounce back of this ordeal which had lead to a drop in BTC from $580 to $454.
Here is Mt. Gox's open letter on their website:
February 26th 2014
Dear MtGox Customers,
As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.
Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.
Sincerely,
Mark Karpeles
Dear MtGox Customers,
In light 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
Here is Mt. Gox's open letter on their website:
February 26th 2014
Dear MtGox Customers,
As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.
Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.
Sincerely,
Mark Karpeles
Dear MtGox Customers,
In light 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
With 1.1 million accounts and high volume of trading on the line, Mt.Gox is in dire need to step up its game. All the Bitcoin community can do is observe what happens in a month and how the refurbishing will affect the trading economy.
