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Bitcoin Plunges After Marketplace Indefinitely Halts Withdrawals

(Reuters) The price of the digital currency Bitcoin slid to its lowest level in nearly two months on Monday after Bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected “unusual activity.”

The Bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt. Gox, the best known operator of a Bitcoin digital marketplace, recording one of the biggest drops for the day.

On the Mt. Gox platform the currency plunged to as low as $500 early on Monday, down more than 27 percent from Friday’s final price of $692, according to the Mt. Gox website. It last traded at $595.74, off nearly 14 percent from Friday.