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Topic: Hong Kong's MyCoin Disappears With Up To $387 Million (Read 3161 times)

full member
Activity: 126
Merit: 100
点金胜手 的情节真实上演了 Shocked

english plz!!!

thank you!
sr. member
Activity: 392
Merit: 250
点金胜手 的情节真实上演了 Shocked
hero member
Activity: 1372
Merit: 783
better everyday ♥
OP should change the thread title, as it's not $387 Million but $8.1 Million lost:

http://www.coindesk.com/mycoin-hong-kong-police-8-1-million/

$8.1mill is a lot, but there's a huge difference with 9 figures as opposed to 7 figure losses.
member
Activity: 112
Merit: 10
it's not mycoin yet, it's theircoin now   Roll Eyes
another scam site
another problem for bitcoin..

this is true....
remember...

do no use bitcoin exchange account like a personal wallet!!!

the story tell us it is not  agood idea!!!

mtGox,
bitStamp,
myCoin...
etc etc

legendary
Activity: 2674
Merit: 2965
Terminated.
If this so-called exchange was so large (based on the amounts lost), why hasn't anyone mentioned anything about them until now?
Because it was a scam operation that actually didn't do anything.

Why does the title say 387$ million ? Doesn't sound like nothing.
That sounds like they are good at deploying scams and have fooled a high number of investors. That's about it.
hero member
Activity: 504
Merit: 500
Moderator
http://www.nytimes.com/2015/02/11/business/international/hong-kong-issues-warning-about-bitcoin.html?_r=2

"The Hong Kong Monetary Authority said in a statement late Monday that the case “may involve fraud or pyramid schemes,” adding: “Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin.”
full member
Activity: 168
Merit: 100
it's not mycoin yet, it's theircoin now   Roll Eyes
another scam site
another problem for bitcoin..
hero member
Activity: 896
Merit: 1000
On January 3, 2015, MyCoin closed down their physical office

SOURCE: http://www.coinfinance.com/news/mycoin-exchange-disappears-possibly-taking-387-million
tss
hero member
Activity: 742
Merit: 500


crazy amounts of coins being taken even at $1000 price estimates.  add up all the thefts and it's quite a significant chunk.

seems people don't care where they get coin as long as they can get more.
hero member
Activity: 504
Merit: 500
Moderator
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.

More @ http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/

until now..
it seems who the news do not affect the bitcoin price!!!!

hope the bitcoin price trend do not  fall !!!
 Wink Wink Wink Wink

because all of mycoin is fake! the volume is a lie, company is a lie, and even the office is also a lie!

But still the victims and the missing money are real. and so are that bad media news in China about Bitcoin.  Undecided
copper member
Activity: 2268
Merit: 539
LuckyDiamond.io - FLAT 50% Deposit Bonus!
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.

More @ http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/

until now..
it seems who the news do not affect the bitcoin price!!!!

hope the bitcoin price trend do not  fall !!!
 Wink Wink Wink Wink

because all of mycoin is fake! the volume is a lie, company is a lie, and even the office is also a lie!
full member
Activity: 122
Merit: 100
mycoin is a scam form the beginning.

%90 of bitcoin investment systrem is scam too
what a pitty but it's true...

anyone who in bitcoin circles never care about whether it was really lost such money, mycoin is just a fictitious exchange and volume
full member
Activity: 238
Merit: 100
mycoin is a scam form the beginning.

%90 of bitcoin investment systrem is scam too
what a pitty but it's true...
full member
Activity: 122
Merit: 100
mycoin is a scam form the beginning.

and nobody who inside bitcoins cares about whether it was really lost such money
full member
Activity: 238
Merit: 100
it's very bad news for bitcoin
bitcoin prices will under 300 dolar for o long time..
legendary
Activity: 1778
Merit: 1043
#Free market
so many sources are wrong on this story, it's incredible tbh.

Mycoin HK offered a ponzi scheme contract which was paid in FIAT currency, no one ever invested a single Bitcoin into this scam.

All investors were promsied a guaranteed 90 Bitcoin payout when their contract matured.

http://www.cryptoarticles.com/crypto-news/mycoinhk-packages-fiat-currency-ponzi-scheme-as-guaranteed-bitcoin-payout

Yes at the end all the investors lost only the HK Dollars and not bitcoin. We have seen this bad news didn't affect the bitcoin price (check the various charts)  because no one bitcoin "has been dumped".
legendary
Activity: 1596
Merit: 1010
so many sources are wrong on this story, it's incredible tbh.

Mycoin HK offered a ponzi scheme contract which was paid in FIAT currency, no one ever invested a single Bitcoin into this scam.

All investors were promsied a guaranteed 90 Bitcoin payout when their contract matured.

http://www.cryptoarticles.com/crypto-news/mycoinhk-packages-fiat-currency-ponzi-scheme-as-guaranteed-bitcoin-payout
legendary
Activity: 1778
Merit: 1043
#Free market
Thats the end of bitcoin

And there´s nothing we can do about it. I´ll give it 4-5 more months before life support system will be shutdown completly.  Undecided

No , that's not the end.

It is the end if HK$ , they have robbed 3b of HK$  Roll Eyes .
hero member
Activity: 504
Merit: 500
Moderator
Thats the end of bitcoin

And there´s nothing we can do about it. I´ll give it 4-5 more months before life support system will be shutdown completly.  Undecided
hero member
Activity: 672
Merit: 502
Thats the end of bitcoin

Why are you always so negative about Bitcoin?
I remember when the price fell below $200 you made this thread : https://bitcointalksearch.org/topic/who-is-coming-to-funeral-of-bitcoin-rip-bitcoin-924379 with the title "Who is coming to funeral of Bitcoin |RIP BITCOIN"

It's as if you want it to be dead??
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