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Fraud, Not Hackers, Took Most of Mt. Gox's Missing Bitcoins

Posted by timothy on from the shocked-simply-shocked dept.

itwbennett writes Nearly all of the roughly $370 million in bitcoin that disappeared in the February 2014 collapse of Mt. Gox probably vanished due to fraudulent transactions, with only 1 percent taken by yet-to-be-identified hackers, according to a report in Japan's Yomiuri Shimbun newspaper, citing sources close to a Tokyo police probe. The disclosure follows months of investigations by police and others into the tangled mess surrounding the disappearance of the 650,000 bit coins.

1 of 108 comments (clear)

  1. Re:Bitcoin != Coins by Anonymous Coward · · Score: 5, Insightful

    Yeah, yeah, we're all bitter about not getting in on the ground floor too. Let it go.

    The most common comment on stock trading forums discussing speculative stocks. And bitcoin has so far behaved very similar to speculative and gamed stock trading.