MtGox goes offline

One of the biggest Bitcoin Exchanges, MtGox, has gone offline. The exchange has been hit by technical issues and recently halted all customer withdrawals of the digital currency after it spotted what it called "unusual activity". The move is a setback for backers of Bitcoin, who have been pushing for greater adoption of the currency. Meanwhile, six other major Bitcoin exchanges issued a joint statement distancing themselves from MtGox. The move by MtGox to halt withdrawals had resulted in a sharp decline in the value of Bitcoin. "This tragic violation of the trust of users of MtGox was the result of one company's actions and does not reflect the resilience or value of Bitcoin and the digital currency industry," the exchanges, including Coinbase and BTC China, said in a statement, according to a news agency.