I hope this doesn't have something to do with FonziePonzie.
500 Mil USD being on that exchange is absurd
Topic: Bitcoin ponzi Mycoin in China goes bust!~ 500 mil.$ lost. Prepare for a crash! - page 5. (Read 5877 times)
February 08, 2015, 01:15:42 PM
February 08, 2015, 01:15:26 PM
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
This. someone ban the troll / scamming OP for posting this shit
February 08, 2015, 01:14:23 PM
Not sure to believe this or not, seems like some desperate money hungry chinese bitches trying to overreact again because it's not the first time they have tried to cause panic, isn't the identity of the owners public? If not and this is true then users deserve to lose their money for sending money to them.
So you wouldn't send money to an exchange if u dont know owners name ? Take btc-e for an example,
with milions of dollars of trading volume each and single day, and do u know owners real identity?
This is exactly why bitcoin needs to be regulated, like any other business.
bitcoin or the various exchanges ? It is not simple as you think.
February 08, 2015, 01:14:10 PM
Yes this is BS.
That is about 2.1 million bitcoins stolen, i think.
If it is all true, it was probably fake bitcoins or CNY trading like Mt.Gox, no actual losses.
That is about 2.1 million bitcoins stolen, i think.
If it is all true, it was probably fake bitcoins or CNY trading like Mt.Gox, no actual losses.
February 08, 2015, 01:13:27 PM
Not sure to believe this or not, seems like some desperate money hungry chinese bitches trying to overreact again because it's not the first time they have tried to cause panic, isn't the identity of the owners public? If not and this is true then users deserve to lose their money for sending money to them.
So you wouldn't send money to an exchange if u dont know owners name ? Take btc-e for an example,
with milions of dollars of trading volume each and single day, and do u know owners real identity?
This is exactly why bitcoin needs to be regulated, like any other business.
February 08, 2015, 01:10:17 PM
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
Exactly my thoughts. 500 million deposited and:
Quote
The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.
February 08, 2015, 01:07:06 PM
February 08, 2015, 01:06:42 PM
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, im not saying that the news are entirely fake, but i seriously doubt they lost 500 000 000 USD as they claim.
Anyways the site is back up and running, with no sign that anything bad happened..
I believe we will see more and more of these type of hoax as banks struggle to bring bitcoin down.
cheers
February 08, 2015, 01:05:02 PM
Not sure to believe this or not, seems like some desperate money hungry chinese bitches trying to overreact again because it's not the first time they have tried to cause panic, hope its untrue because the gox drama really damaged bitcoin price.
February 08, 2015, 01:03:16 PM
Quote
"Mycoin.hk", a bitcoin thing in Hong Kong,
A bitcoin thing? sounds like probably nothing and someone trying to cause a crash, ive never heard of this site.
February 08, 2015, 12:58:11 PM
Can't believe this happens again.. Hopefully the report is fake.
yeahh not going to happen again so soon, if it means that the security is very weak.
hopefully these false alarms = HOAX
February 08, 2015, 12:52:43 PM
It's in the news here (in HK). But my wife is sleeping (2 am) and I don't understand Chinese.
February 08, 2015, 12:49:11 PM
"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.
The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.
Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053
Google translation:
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.
Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053
Google translation:
Quote
WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever. With all the chinese money disappearing Bitcoin will probably crash to ~50$ according to financial bitcoin experts.
Can someone please get an english news source of this story or someone from China can actually say the real story. This is appearing fake for multiple reasons...
It's a Ponzi involving some kind of mining contract. The scammer said they would pay 0.64BTC of interest per day for every 90BTC investment.
By the way, they claim 3 billion HKD, not CNY. But this 3 billion HKD is pulled out of their ass. Only 30 victims seek help and they claims loss of 1 million HKD on average. The legislative councillor speculates that there are 3000 victims and ALL OF THEM lost 1 million HKD. That's how the 3 billion HKD calculated.
February 08, 2015, 12:48:11 PM
Wait, so this drastic price drop isn't a crash? Great.
Tbh I wouldn't mind a price drop to $50, I'd actually step in and fill my pockets if not hard drives.
Tbh I wouldn't mind a price drop to $50, I'd actually step in and fill my pockets if not hard drives.
February 08, 2015, 12:45:15 PM
"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.
The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.
Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053
Google translation:
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.
Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053
Google translation:
Quote
WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever. With all the chinese money disappearing Bitcoin will probably crash to ~50$ according to financial bitcoin experts.
Can someone please get an english news source of this story or someone from China can actually say the real story. This is appearing fake for multiple reasons...
February 08, 2015, 12:39:16 PM
Can't you guys read the whole topic and stop accusing the OP for trolling and spamming or whatever please ?
As you can see , he is not sure if the topic is correct or not .
As you can see , he is not sure if the topic is correct or not .
Quote
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
Quote
If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever.
OP is a typical bear! That is no.1! No.2 is when he doesn't know for sure why is he writing it as being sure in the title?
He tries to panic!
February 08, 2015, 12:33:47 PM
Can't you guys read the whole topic and stop accusing the OP for trolling and spamming or whatever please ?
As you can see , he is not sure if the topic is correct or not .
As you can see , he is not sure if the topic is correct or not .
Quote
EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.
Quote
If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever.
February 08, 2015, 12:26:17 PM
C'mon please! $500 million in an HK exchange almost nobody knows?! Ridicolous! OP tries to make panic!
February 08, 2015, 12:18:56 PM
Site is up and price is stable on other exchanges. around 222$, seems like false alarm. But everything is possible
February 08, 2015, 12:16:11 PM
500 mln of dollars 
, that is insane. Another big scam, another story for the bitcoin eco-system.... but we are always here.
, that is insane. Another big scam, another story for the bitcoin eco-system.... but we are always here. Jump to: