Quote from: MtGox
Deposits and Withdrawal Update
Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want.
For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.
Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want.
For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.
From my reading of this, they have Deposits and Withdrawals working but it takes longer than it used to.
What will make Litecoin go up in value is the arbitrage opportunity and the larger volume of trades going on at MtGox.
