Beijing based virtual currency exchange Vircurex will become the next Mt Gox

Beijing based virtual currency exchange Vircurex will become the next Mt Gox

March 24th, bitcoin exchange Mt. Gox bankruptcy storm has not yet subsided, but the recent troubled exchange can be more than this one, according to technology blog The Nex Web reported that the Beijing based virtual currency exchange Vircurex under a serious financial crisis, has stopped bitcoin, Wright coins and other virtual currency withdrawals all the accounts, and freeze the existing users in today’s.

Vircurex has been hacked two times last year, so has been using a cold storage (ie, offline preservation) of virtual currency reserves to compensate for the impact of these attacks in the user in the two. But Vircurex said that in the past few weeks, massive withdrawals have taken up its reserves, which means it has no money to pay for the victims.

Vircurex but not like Mt. Gox filed for bankruptcy, but the current account balance of frozen frozen – called "frozen fund" (Frozen Funds), can not be traded nor withdrawals, but will gradually return to the user account. Vircurex hope that through this approach to ease the financial pressure and protect the interests of users due to hacker attacks.

Vircurex is committed to returning the frozen balance to all users in the month and will not freeze the balance again, and the new registered users will not be frozen. This exchange can go out of the bankruptcy crisis depends mainly on two points: first, the ability to continue to attract new users deposits, two is to ensure that no longer be hacked.

Vircurex recently announced a business in November last year, it was claimed that every day there are more than 1000 of the new user registration, bitcoin owed 1219.81 yuan value — these bitcoin is currently about $700 thousand. Vircurex has never announced the number of bitcoins lost last year in the hacker attacks, while the size and growth of existing users is unknown. (relax)

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