The issues at Mt.Gox caused anger in the bitcoin community with some customers taking to social media to express their dissatisfaction amid rumors that the company could be concealing financial difficulties. An unverified document circulating online claims that Mt.Gox has lost 744,408 bitcoins (worth around $350 million) due to theft related to the trading fault.
At 10 a.m. London time Tuesday, the source code for Mt.Gox's website changed, indicating an announcement could soon be uploaded.
Meanwhile, several other major exchanges from the bitcoin community released a joint statement on Monday, trying to restore confidence in the digital currency and distance themselves from the troubled Japan-based exchange. The statement initially featured details regarding the insolvency of Mt.Gox but were later removed.
"As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today. Mt.Gox has confirmed its issues in private discussions with other members of the bitcoin community," it said.
Bobby Lee, CEO of BTC China, one of the exchanges responsible for the statement, said it had been changed because of a lack of "verifiable evidence" by the organizations, even though he believed that it had reliable information to suggest that Mt.Gox was insolvent. Technology blog Re/code reported that a spokesperson for the group had confirmed that Mt.Gox "will file bankruptcy in private discussions with other members of the bitcoin community."
The Bitcoin Foundation, which aims to help promote and protect the alternative currency, issued a statement stating that it was shocked to learn about Mt Gox's "alleged insolvency."
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"While we are unable to comment on whether or not Mt.Gox's business operations employed operational best practices and reasonable accounting procedures, we can assure the public that the bitcoin protocol is functioning properly," it said. Mt.Gox was not immediately available to comment when contacted by CNBC.
The Wall Street Journal asked Karpeles last Monday about the company's solvency or protection for customers' funds. Karpeles replied that the matter is "confidential," adding that the company had discussed its business model with Japanese authorities "to ensure that we are operating within the law here."
The price of bitcoin fell to $425 by 6 a.m. London time, according to CoinDesk which tracks the price on a selection of major exchanges, after starting the day at $545, but rebounded shortly afterward. The price of the currency on Mt.Gox had fallen to around $100 before the exchange's website became inaccessible.