# Prof. Arun Sundararajan on the security breach at Bitcoin exchange Mt. Gox

1 Faculty News February 27, 2014 ![Voice of America logo](/sites/default/files/styles/246w/public/assets/images/con_031532.jpg?itok=KsilGxhw)>

Excerpt from [Voice of America](http://www.voanews.com/content/questions-surround-bitcoin-future/1861005.html) -- "No one really knows why the bitcoin broker shut down. But economics professor [Arun Sundararajan](http://w4.stern.nyu.edu/faculty/bio/arun-sundararajan) says signs point to a security flaw. 'It seems to have been a security breach more than anything else where a lot of the bitcoin was stolen by hackers. And as a consequence, Mt. Gox had to stop trading. And of course this has sort of lowered the value of the bitcoin traded at Mt. Gox considerably,' said Sundararajan."

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