Bitcoin exchange firm head ‘seeks solution’

The exchange has suspended trading amid accusations that it suffered a catastrophic theft and its website went blank on Tuesday, sparking speculation that it has collapsed.

Bitcoin is an online currency that allows people to make transactions across borders without involving third parties such as banks or credit card issuers.

Tokyo-based Mt Gox was one of the world’s biggest exchanges for bitcoins.

Chief executive Mark Karpeles, who has disappeared from the public eye, said in a two-paragraph post on the Mt Gox website dated Wednesday that he has the support of different parties in finding a “solution to our recent issues”.

He did not say who they were, what the solution might be or when trading might resume.

Some bitcoin investors have travelled to Tokyo from abroad to try to reclaim money tied up in bitcoins at Mt Gox.

It is unclear whether Mt Gox’s woes make for an isolated case or will put bitcoins at risk. Boosters of the online currency say cryptography makes it immune to theft or counterfeiting but Mt. Gox’s problems have underlined its risks