Washington, Feb. 11 ANI | 5 months ago

A bitcoin glitch caused the price of the currency to fall for a small period.


Bitcoin, which had opened the day at 704 dollars, fell to 538 dollars before settling at 621.27 dollars.

The price activity comes after Mt. Gox, the second largest bitcoin exchange by volume, announced a glitch that caused it to suspend transfers from wallets to external bitcoin addresses, Mashable reports.

In a press release, Mt. Gox said a bug in the bitcoin software made it possible for someone to use the currency network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur, the report said.

Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent.

MtGox is working with the Bitcoin core development team and others to address the issue.

(Posted on 11-02-2014)