Alleged Bitcoin Scam Leaves Millions Missing

First time accepted submitter OutOnARock writes Yahoo Finance is reporting on the latest Bitcoin scam, this time from Hong Kong. "Investors in a Hong Kong-based Bitcoin trading company fear they have fallen victim to a scam after it closed down, a lawmaker said Monday, adding losses could total HK$3 billion ($387 million). Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more. 'The number of cases is increasing. These two days I received calls about more than 30 cases. We estimate more than 3,000 people and HK$3 billion are involved,' he told AFP."

Comments

Re:Amazing what the absence of govt really means

[digsbo]

Because there's no way a national government would allow its chartered monopolistic currency issuing bank to help commercial banks profit at the expense of taxpayers.

Re:10% of all bitcoins

[ArcadeMan]

Funny and yet somehow appropriate reply coming from Ralph Wiggam.