This is the article on Finance.yahoo.com:
Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more.
"The number of cases is increasing. These two days I received calls about more than 30 cases. We estimate more than 3,000 people and HK$3 billion are involved," he told AFP.
https://finance.yahoo.com/news/alleged-bitcoin-scam-leaves-millions-missing-132209213.html
Topic: Bitcoin ponzi Mycoin in China goes bust!~ 500 mil.$ lost. Prepare for a crash! - page 2. (Read 5877 times)
February 09, 2015, 03:08:09 PM
February 09, 2015, 02:52:49 PM
this has nothing to do with bitcoin other than they used it's name in their pitch. In previous years it always seemed like Forex trading was the popular ponzi line, saying they are experienced Forex traders to try to hook people in. Forex was the ideal thing to use as it's volatile, so now it seems that one of them chose Bitcoin as a way to try to explain how they give unrealistic returns.
This was a FIAT ponzi and nothing to do with bitcoin, OP is just a FUD troll and has no clue what he's talking about. People were investing $1m HK not BTC, it' really very simple. The company never did anything with bitcoin, they just took the money and ran.
This was a FIAT ponzi and nothing to do with bitcoin, OP is just a FUD troll and has no clue what he's talking about. People were investing $1m HK not BTC, it' really very simple. The company never did anything with bitcoin, they just took the money and ran.
February 09, 2015, 02:09:07 PM
Topic's title needs to be changed. This is not about an exchange like MtGox but a company which was selling dubious investments, ponzi-like somehow related to BTC.
The op seems to be anti-bitcoin. He is directing it exactly like what serves his purpose.
he is actually right. it seems op has also been fuding on the speculation thread,
February 09, 2015, 02:04:12 PM
in the bitcoin world you know straight away who is short or long on any given time.
February 09, 2015, 01:38:36 PM
Topic's title needs to be changed. This is not about an exchange like MtGox but a company which was selling dubious investments, ponzi-like somehow related to BTC.
The op seems to be anti-bitcoin. He is directing it exactly like what serves his purpose.
February 09, 2015, 01:32:39 PM
Topic's title needs to be changed. This is not about an exchange like MtGox but a company which was selling dubious investments, ponzi-like somehow related to BTC.
The op seems to be anti-bitcoin. He is directing it exactly like what serves his purpose.
February 09, 2015, 12:53:43 PM
Topic's title needs to be changed. This is not about an exchange like MtGox but a company which was selling dubious investments, ponzi-like somehow related to BTC.
February 09, 2015, 12:16:10 PM
So it really happened ?
...
Yes, but probably it's not even bitcoin related. From coindesk article:
Quote
Ponzi scheme suspected
Adding to the mystery are reports the company never operated as a genuine bitcoin business at all. Testimonies from customers describe an operation more like a Ponzi scheme that used the veneer of bitcoin trading as its lure.
Adding to the mystery are reports the company never operated as a genuine bitcoin business at all. Testimonies from customers describe an operation more like a Ponzi scheme that used the veneer of bitcoin trading as its lure.
So basically they just targeted a group of wealthy but gullible older people to make them 'invest' in the ponzi. They had to give them some bullshit explanation on how they're going to make them such unrealistic ROI, so they just used "Bitcoin" for that.
February 09, 2015, 12:10:17 PM
This is the article of coindesk :
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
So it really happened ?
China are good in banning stuff (Google , Gmail etc ...) , now they will block the whole Bitcoin and R.I.P Price , It will probably affect a lot on Bitcoin price since they have a lot of users there (I guess .. since they 1 billion citizens)
~ Madness
New "regulations"( Total bans) will probably be introduced by the PBOC in the next 2-3 weeks, maybe earlier. We´ll see.
February 09, 2015, 12:07:46 PM
This is the article of coindesk :
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
So it really happened ?
China are good in banning stuff (Google , Gmail etc ...) , now they will block the whole Bitcoin and R.I.P Price , It will probably affect a lot on Bitcoin price since they have a lot of users there (I guess .. since they 1 billion citizens)
~ Madness
I don't know , for the moment the price is stable. As you see from the various charts:
- https://bitcoinwisdom.com/markets/huobi/btccny
- https://bitcoinwisdom.com/markets/btcchina/btccny
- https://bitcoinwisdom.com/markets/okcoin/btccny
Only a little dump.
February 09, 2015, 12:05:27 PM
This is the article of coindesk :
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
So it really happened ?
China are good in banning stuff (Google , Gmail etc ...) , now they will block the whole Bitcoin and R.I.P Price , It will probably affect a lot on Bitcoin price since they have a lot of users there (I guess .. since they 1 billion citizens)
~ Madness
February 09, 2015, 11:46:43 AM
HOLY SHIT! IT´S CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!
Fail.
Try again with red font + bigger size
February 09, 2015, 11:18:02 AM
HOLY SHIT! IT´S CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!
Fail.
Try again with red font + bigger size
February 09, 2015, 10:33:22 AM
an exchange no one has heard of has 500 million of the 3 billion dollar market cap
someone ban the troll / scamming OP for posting this shit
someone ban the troll / scamming OP for posting this shit
Agreed, OP should be banned for repeatedly trying to spread untrue FUD.
Are you stupid? Can you even read? Do you think all those articles are made up? Did the bitcoin bearmarket destroy your brain, or are you just another typical bull scammer who is trying to discredit everyone and everything telling the truth?
Can you even read, Fonzi? Are you stupid, or a liar?
It was a Ponzi, why isn't that fact in your thread title?
He likes to bend the facts.
February 09, 2015, 09:54:27 AM
HOLY SHIT! IT´S CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!
price will go doooooooown
February 09, 2015, 08:28:11 AM
This is the article of coindesk :
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
"Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.
If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each."
http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/
February 09, 2015, 08:19:26 AM
News about the situation:
"MyCoin now value its bitcoins at only HK$20 per unit compared to the international bitcoin price of around HK$1,727 (US$222) on Monday.
The aggrieved clients, who claim MyCoin is a pyramid scheme packaged as bitcoin trading, said they had been unable to contact the company’s management, while sales staff at higher levels claimed they too had been the victims of deception."
Source : http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules
"MyCoin now value its bitcoins at only HK$20 per unit compared to the international bitcoin price of around HK$1,727 (US$222) on Monday.
The aggrieved clients, who claim MyCoin is a pyramid scheme packaged as bitcoin trading, said they had been unable to contact the company’s management, while sales staff at higher levels claimed they too had been the victims of deception."
Source : http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules
That´s even more discount than Gox gave at the end.
February 09, 2015, 07:43:23 AM
News about the situation:
"MyCoin now value its bitcoins at only HK$20 per unit compared to the international bitcoin price of around HK$1,727 (US$222) on Monday.
The aggrieved clients, who claim MyCoin is a pyramid scheme packaged as bitcoin trading, said they had been unable to contact the company’s management, while sales staff at higher levels claimed they too had been the victims of deception."
Source : http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules
"MyCoin now value its bitcoins at only HK$20 per unit compared to the international bitcoin price of around HK$1,727 (US$222) on Monday.
The aggrieved clients, who claim MyCoin is a pyramid scheme packaged as bitcoin trading, said they had been unable to contact the company’s management, while sales staff at higher levels claimed they too had been the victims of deception."
Source : http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules
February 09, 2015, 07:40:38 AM
You are desperate, aren't you, fonzie ponzie?
February 09, 2015, 07:09:00 AM
HOLY SHIT! IT´S CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!
Jump to: