Bitcoin on verge of collapse

Bitcoin on verge of collapse

L.A. Times: The sudden closure of Mt. Gox, the world's largest virtual currency exchange, triggered a massive sell-off.

After saying users could not withdraw their funds, Mt. Gox suddenly ceased all operations, including shutting down its website. Mt. Gox users may have lost more than $300 million worth of bitcoins in what was the latest and biggest in a series of recent setbacks for the virtual currency.

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