>>Read if you are new to Bitcoin<<

MtGox has not honoured cash withdrawals in a timely manner since early 2013. This is what has caused the price discrepancy between MtGox and other Bitcoin exchanges. Nobody knows if MtGox have been making millions by arbitrage trading or not, but either way you might not want to be the one sitting with your funds locked in an MtGox account.
  • If you currently have funds or Bitcoin at MtGox, make a withdrawal request. The best chance to ever see your money again is to be as early as possible in the withdrawal queue. You may also use the bitcoinbuilder.com website in order to recover some of your funds that is locked in an MtGox account.
  • Use MtGox alternatives. There are several ways to buy bitcoins without using MtGox. Some bitcoin exchanges that work fine are Bitstamp.com, Kraken, bitfinex, campbx, BTC-e.com and localbitcoins

More Scary Facts about MtGox

  • MtGox CEO Mark Karpeles tried to blame their problems on Bitcoin.
  • Read this article that points out the fact that MtGox behaves similar to how the insolvent poker giants behaved before they went bankrupt and disappeared with their customers' money.
  • Current wait time to get your MtGox account verified: 1 month. Current wait for cash withdrawals: Unknown - something between 2 months and an eternity. No bitcoin withdrawals are allowed at all at the moment.
  • The price spread between MtGox and other Bitcoin exchanges indicates that 80% of MtGox account holders assume that they will never be paid back their bitcoins.
  • MtGox' CEO Mark Karpeles refuses to say if MtGox is insolvent or not. Insolvency would explain much of MtGox' behaviour; they simply don't have the funds to send out withdrawals and therefore are delaying and coming up with excuses for not doing so.

Read if you are already into Bitcoin

You probably know already that the crashes that MtGox repeatedly has caused to Bitcoin since 2011 are not a problem with Bitcoin itself. The sooner people stop using MtGox, the better for Bitcoin. We need people to stop using MtGox in order to be able to focus on the development of Bitcoin.

There's a number of ways you can help newbies from getting Goxed and help Bitcoin in the long run:

  • MtGox keeps getting new customers because there's hundreds of sites and articles mentioning them as the biggest Bitcoin exchange. We need to email those guys and inform them that MtGox stopped honouring cash withdrawals almost a year ago, and is currently totally defunct and possibly insolvent. Please help the Bitcoin community and try to make them mention other alternatives instead.
  • Link to mtgoxsucks.com: When new people get interested in Bitcoin from a news article or website and see MtGox being mentioned, they might google "mtgox" and come to the MtGox website from there. If enough people link to this website, it will also be displayed at the search results page right under MtGox themselves. Peaple may then enter this website and get informed before putting more fiat or bitcoins into to the MtGox black hole. So, if you are a website owner or active on a bitcoin forum or comment on an article about Bitcoin or MtGox, please include a link to mtgoxsucks.com
  • Support mtgoxsucks.com and we will be able to build more websites and buy adwords that warns about MtGox. Our donation address is: 1M4nDTzogsKTJxoBzRURvHhnVev8cVy2KG
  • You can also like this site or up it on Google+ with the buttons at the top left.

Below is a collection of articles about the repeated chaos that has been caused by MtGox' incompetency. We aim to make a complete database of issues that have been reported by MtGox users. This site was created in 2011 and has recently been brought back to life. Horror stories and more coming soon. If you would like to contribute to mtgoxsucks.com or send us your horror story, please contact us.

Australians Get Shut Off From Mt Gox

And not it's the Australians that can't do bank transactions with Mt Gox. Yet another reason to start using another Bitcoin exchange.
Dear Mt.Gox Users,

Technocash Deposits are temporarily unavailable due to banking issues with the National Australian Bank (NAB). NAB are assisting Mt.Gox with this issue currently, and we will expect to have a resolution within five business days. We apologize for any inconvenience caused.

Thank you,

Mt.Gox Support

MtGox Holding SEPA Payments

As of now, it appears to be impossible to get your money out of MtGox. A way to get your money out is to buy Bitcoins, transfer them to another Bitcoin exchange like Tradehill or Bitcoin7, convert back to your currency and withdraw the money (Both TradeHill and Bitcoin7 are now discontinued).


New MtGox Fishing Attempt

The email goes like this and was sent to the leaked MtGox user database.
Dear Mt.Gox user,

Your account will be blocked for violating the rules of exchange. Details:https://www.mgtox.com/users/blocked

The Mt.Gox team

Mt. Gox Increase Trade Commissions

The Mt. Gox trade commissions used to be 0.30% but we just noticed today that it has been increased to 0.55%. If you know the exact time of this commission change, please let us know.

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