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Another Bitcoin Exchange Fraud

Posted by timothy on from the whereas-governments-debase-the-money-instead dept.

Ellie K writes Bitcoin exchange MyCoin has vanished — leaving $387 million in investor funds unaccounted for. MyCoin is a Hong Kong-based virtual currency trading exchange. Bitcoin exchanges are no stranger to controversy. Mt. Gox closed in February 2014, filing for bankruptcy and leaving investors approximately $500 million out of pocket. Others were 'cyberattacked' including Flexcoin, Poloniex and Bitcurex.

1 of 53 comments (clear)

  1. That was not really an exchange by JcMorin · · Score: 3, Interesting

    This "exchange" promise great return, wasn't listed in the huge directory of exchanges http://exchangewar.info/. This "exchange" didn't have any API for automation and arbitration. Lets just call this exchange a ponzi scheme. There is those get rich quick scheme everywhere... also in the bitcoin universe.