Mt. Gox freezes all USD cash withdrawals and says you can’t have any of your money back.

Looks like that twitter post wasn’t too far fetched. Mt. Gox today announced their their big mean ol’ bank said that they were being overwhelmed by the tremendous success of Mt. Gox. (even though trading volume is at a 6ámonth low) and has “temporarily” suspended all withdrawals from the exchange in USD currency for the “next few weeks”. If you have money in Mt. Gox right now well tough titties, they’re going to hang onto it for a while. If you don’t like it you can go pound sand.

TOKYO – JAPAN – June 20th, 2013

Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts. We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks. Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed. We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon.

Mt.Gox Co. Ltd Team.

Mt.Gox Contactá[email protected]

Mt. Gox will no longer allow withdrawals for the next few weeks but will happily accept deposits and transfers just fine. You can put cash in but you can’t cash out.

MtGox also claimed that they are overwhelming the banks system.áThat bank is Mizuho. It’s the second largest financial group in Japan and the ninth largest in the World.áYes, MtGox is claiming the 2 week pause is this banks fault.

I wonder if they will encounter any more “delays” before they claim the Feds finally shut them down.