Mt. Gox’s CEO resigns from Bitcoin Foundation

bitcoin-foundation24 Feb 2014 / Reuters – Mark Karpeles, chief executive of Mt. Gox, the embattled Toyko-based bitcoin exchange, resigned on Sunday from the board of the Bitcoin Foundation, in the latest blow to the digital currency.

Jinyoung Lee Englund, a spokesperson for the Bitcoin Foundation – a trade group promoting the adoption of the digital currency, confirmed the news and said the resignation was effective immediately.

The resignation follows a number of technical issues, including a massive cyber attack from unknown sources that has been spamming bitcoin exchanges.

Earlier in February, Mt. Gox, the best-known digital marketplace operator, said it is halting withdrawals indefinitely after it detected “unusual activity.

Following the halting, the foundation’s chief scientist Gavin Andresen defended the currency and criticized Mt. Gox, saying the problem was with exchange, not Bitcoin.

“The issues that Mt. Gox has been experiencing are due to an unfortunate interaction between Mt. Gox’s implementation of their highly customized wallet software, their customer support procedures, and their unpreparedness for transaction malleability, a technical detail that allows changes to the way transactions are identified,” Andresen said in a statement on the Foundation’s blog on February 10….. Read more

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