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Bitcoin Exchange Vircurex Halts Coin Withdrawals

Monday, March 24, 2014 5:16:00 AM PDT | VentureDeal
   Beijing, China  --  Bitcoin exahnge operator Vircurex has stopped withdrawals of Bitcoin, Litecoin and other coins.

The exchange was hacked twice in the past year but has faced large fund withdrawals in recent weeks, in the shadow of the implosion of Japan-based Mt. Gox Bitcoin exchange.

Vircurex said that it will introduce a new balance type called "Frozen Funds", which represent balances that it intends to fully repay over time.

The company said it will take its monthly net profit and use it to pay back the Frozen Funds balances.

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