TagMyCoin

Bitcoin Scam MyCoin Investigation Yields Multiple Arrests in Hong Kong

One of the largest stories in the Bitcoin universe in February was the bitcoin exchange that wasn't. The MyCoin pyramid scheme in Hong Kong defrauded a small number of very high rollers; people who were investing millions of US Dollars each. This created a reported cache of almost $400 million before the computer bandits made their getaway. Now, it seems that some headway has been made in the...

MyCoin Bitcoin Scam - The Sequel to a Bitcoin Nightmare

mycoin

When the first major bit-heist, Mt. Gox, happened, many in the crypto community might have been forgiven for thinking that it had been but a minor case of arrhythmia. However with the latest incident involving MyCoin, a bitcoin exchange in Hong Kong, it appears that we might soon have a full-scale coronary. There will have to be stronger guarantees for client funds going forward if we are not...

Hong Kong Shouldn’t Ban Bitcoin Because of Bad Actors

When the Chinese Ponzi scheme MyCoin vanished without a trace, stealing investment money from patrons across the board, many people went to the Hong Kong police first and foremost. MyCoin stole their money, and they want it back. Also Read: Hong Kong Bitcoin Exchange MyCoin “Lost” $387 Million of Customers’ Money MyCoin was supposed to be a bitcoin exchange and gathered enough interest to claim...

Hong Kong Bitcoin Exchange MyCoin "Lost" $387 Million of Customers' Money

Reports out of Hong Kong indicate that the MyCoin Exchange has just closed, locking out more than three thousand large investors. The closure has occurred almost one year to the day after the world's largest Bitcoin exchange, Mt. Gox, closed off all exchange withdrawals on February 7th, 2014. That took almost 750,000 investor's Bitcoins with it, plus 100k of the exchange's cache. This sudden...

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