Hong Kong's MyCoin Disappears With Up To $387 Million - page 2.

dsly

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Quote from: Lauda on February 09, 2015, 04:43:38 PM

Quote from: haploid23 on February 09, 2015, 04:11:57 PM

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.

unsoindovo

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https://locktrip.com/?refId=40964

Quote from: redsn0w on February 09, 2015, 05:09:57 PM

Quote from: ?? on ??

MyCoin was not an exchange.

Quote from: http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company

Investors said they were lured by promises of a HK$1 million return in four months for buying a HK$400,000 bitcoin contract which would produce 90 bitcoins on maturity.

It was also a "Trading center" but at the base it was only a ponzi scheme (always this cloud mining Roll Eyes

). These were the services :

ponzi again!!!

is becoming a must!!!

not so good!

redsn0w

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#Free market

Quote from: ?? on ??

MyCoin was not an exchange.

Quote from: http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company

Investors said they were lured by promises of a HK$1 million return in four months for buying a HK$400,000 bitcoin contract which would produce 90 bitcoins on maturity.

It was also a "Trading center" but at the base it was only a ponzi scheme (always this cloud mining Roll Eyes

). These were the services :

zlatanBorec

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Activity: 112

Merit: 10

Quote from: tins on February 09, 2015, 04:39:53 PM

Quote from: rollingMyCar on February 09, 2015, 09:28:11 AM

Quote from: NotAPonzi on February 09, 2015, 09:24:19 AM

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

Doubt it will do much of anything. None of the great news of the past year has helped the value, can't see how this would shake the value either.

here

https://finance.yahoo.com/news/alleged-bitcoin-scam-leaves-millions-missing-132209213.html

they are talking just aboout fiat...
HK$
kongolese Dollar...

nothing about btc!!!

Lauda

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Merit: 2965

Terminated.

Quote from: haploid23 on February 09, 2015, 04:11:57 PM

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.

tins

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Activity: 882

Merit: 500

Quote from: rollingMyCar on February 09, 2015, 09:28:11 AM

Quote from: NotAPonzi on February 09, 2015, 09:24:19 AM

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

Doubt it will do much of anything. None of the great news of the past year has helped the value, can't see how this would shake the value either.

finnile

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Activity: 196

Merit: 104

Quote from: haploid23 on February 09, 2015, 04:11:57 PM

If this so-called exchange was so large (based on the amounts lost), why hasn't anyone mentioned anything about them until now?

It wasn't big, its just that they had large amounts from investments, only from a few rich people.

zlatanBorec

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Activity: 112

Merit: 10

Quote from: Coinbuddy on February 09, 2015, 12:55:10 PM

Thats the end of bitcoin

naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
but what 'ru saying???

Cheesy

LOL!!!!

maybe 'ru shorting btc eh? Huh

zlatanBorec

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Activity: 112

Merit: 10

Quote from: gbianchi on February 09, 2015, 10:13:24 AM

Quote from: Q7 on February 09, 2015, 10:09:09 AM

Quote

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.

Oh my, not again. This is big. If it is true, it will definitely cripple investors confidence that they have towards bitcoin.

people must learn that Bitcoin is good, Centralized exchanges are bad.

...i'm reading you signature...
and i'm thinking!!!

haploid23

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If this so-called exchange was so large (based on the amounts lost), why hasn't anyone mentioned anything about them until now?

arbitrage001

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Quote from: NotAPonzi on February 09, 2015, 09:24:19 AM

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/

Expected outcomes for most exchanges. Watch out when the major 3-4 major exchanges blow out next time.

fenican

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One Hong Kong Dollar is worth .13 US Dollars

Coinbuddy

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RICH MIGHT INVESTMENT LIMITED

Referred: RMI

Company Registered No: 1540861

Address: China, Hong Kong

OfficeBon 23/F, Railway Plaza，No. 39 Chatham Road South, Kowloon，Hong Kong

Customer Service Email: [email protected]

Customer Service Tel：(China) +86 4007772775 (Hong Kong) +852 63509793

Customer Service Office Hours：Monday to Friday 09:00 ─ 18:00 Saturday, Sunday & Public Holiday：Closed

Coinbuddy

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Quote from: sgk on February 09, 2015, 12:37:20 PM

Quote from: Alty on February 09, 2015, 12:35:27 PM

So no need for widespread panic?

Nope.. say goodbuy to the hopes of freefall and cheap coins.

contact them
https://www.mycoin.hk/en/index.jsp

Coinbuddy

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Thats the end of bitcoin

ChuckBuck

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better everyday ♥

Quote from: Alty on February 09, 2015, 12:35:27 PM

So no need for widespread panic?

Nope. One centralized exchange with bad actors/bad operators having issues does not cause panic.

Just a continuing problem with these centralized overseas exchanges with no rules, laws, or regulatory framework to properly make sure it's customers aren't taken advantage of like Mt. Gox...

sgk

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!! HODL !!

Quote from: Alty on February 09, 2015, 12:35:27 PM

So no need for widespread panic?

Nope.. say goodbuy to the hopes of freefall and cheap coins.

Alty

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Activity: 714

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RISE Project Manager

So no need for widespread panic?

ujka

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Activity: 630

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Very low number of coins were lost in this scam. It operated in HKD. Ppl sent in their fiat money, in return got an account at the exchange, and a number of IOU coins they could not withdraw.

sgk

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Merit: 1002

!! HODL !!

Quote from: ujka on February 09, 2015, 10:28:18 AM

Right, we need one more thread on this.

Please go to https://bitcointalksearch.org/topic/m.10402916

Thanks, that pretty much sums it up. No reason to panic, guys.
Here's the TL;DR version of that post:

Quote from: Denker on February 09, 2015, 05:33:02 AM

[...]These news are ALL USING THE FAKE NUMBER[...]

[...]Most people in Mainland China and Hong Kong SAR know about this situation at long long time ago (people talked about this at many Chinese bitcoin forum since the end of 2014), Now today the exchanger finally gone down as everyone's expected.[...]

[...]A really small exchanger gone down, less than may be let's say half million HKD(including real bitcoins deposited at there) is lost [...]

[...]If you are waiting for Chinese market to panic, give it up, most Chinese know the mycoin.hk exchanger would runoff at a half year ago[...]

Topic: Hong Kong's MyCoin Disappears With Up To $387 Million - page 2. (Read 3161 times)