Bitcoin Forum

If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever. With all the chinese money disappearing Bitcoin will probably crash to ~50$ according to financial bitcoin experts.  :( :-[

Can't believe this happens again.. Hopefully the report is fake.

Lel , only difference between Mtgox and those I guess that those people are dumb . How they can simply dissapear with the money and hope they won't get catched . even if the goverment have no proof or evidence that those people own the Bitcoins  they should be afraid . They had to play it smart , even smarter then "We got hacked , bye bye " .

~ Madness

site seems up atm:

https://www.mycoin.hk/

Hope it's a false alarm...

In the past several Hong Kong exchanges have run away with costomer funds  (GBL, 796, mycoin, ANX.....),
basicaly anyone dealing with a hong kong registered exchange deserves to get goxed

an exchange no one has heard of has 500 million of the 3 billion dollar market cap

someone ban the troll / scamming OP for posting this shit

oh NO!! China ban Bitcoin!! Sell, sell, sell!!! Fonzie is right:

http://imgur.com/a/KDwtE

...btw nobody banned USD when the Maddoff ponzi collapsed  :D

500 US$ million is more than 2 BTC million at actual price. I remember MtGox scammed only 850k BTC but at the price of the time it was 450 US$ million so quite similar in value. Not sure how to rate impact since MtGox affected more adopters than this Hong Kongese 'exchange' (it apparently affected only 30 people).

30 people with over 10 mil each lost but I am sure there are MANY others :)

Bitstamp is losing its bank account, another exchange "hacked"...bad news for BTC

500 mln of dollars  ::), that is insane. Another big scam, another story for the bitcoin eco-system.... but  we are always here.

Site is up and price is stable on other exchanges. around 222$, seems like false alarm. But everything is possible

C'mon please! $500 million in an HK exchange almost nobody knows?! Ridicolous! OP tries to make panic!

Can't you guys read the whole topic and stop accusing the OP for trolling and spamming or whatever please ?
As you can see , he is not sure if the topic is correct or not .

OP is a typical bear! That is no.1! No.2 is when he doesn't know for sure why is he writing it as being sure in the title?
He tries to panic!

Can someone please get an english news source of this story or someone from China can actually say the real story. This is appearing fake for multiple reasons...

Wait, so this drastic price drop isn't a crash?  Great.
Tbh I wouldn't mind a price drop to $50, I'd actually step in and fill my pockets if not hard drives.

It's a Ponzi involving some kind of mining contract. The scammer said they would pay 0.64BTC of interest per day for every 90BTC investment.

By the way, they claim 3 billion HKD, not CNY. But this 3 billion HKD is pulled out of their ass. Only 30 victims seek help and they claims loss of 1 million HKD on average. The legislative councillor speculates that there are 3000 victims and ALL OF THEM lost 1 million HKD. That's how the 3 billion HKD calculated.

It's in the news here (in HK). But my wife is sleeping (2 am) and I don't understand Chinese.

yeahh not going to happen again so soon, if it means that the security is very weak.

hopefully these false alarms = HOAX

A bitcoin thing? sounds like probably nothing and someone trying to cause a crash, ive never heard of this site.

Not sure to believe this or not, seems like some desperate money hungry chinese bitches trying to overreact again because it's not the first time they have tried to cause panic, hope its untrue because the gox drama really damaged bitcoin price.

Agreed, im not saying that the news are entirely fake, but i seriously doubt they lost 500 000 000 USD as they claim.
Anyways the site is back up and running, with no sign that anything bad happened..
I believe we will see more and more of these type of hoax as banks struggle to bring bitcoin down.

cheers

Yahoo is also reporting now!

http://headlines.yahoo.co.jp/hl?a=20150208-00000055-jij-cn

Exactly my thoughts. 500 million deposited and:


???

So you wouldn't send money to an exchange if u dont know owners name ? Take btc-e for an example,
with milions of dollars of trading volume each and single day, and do u know owners real identity?
This is exactly why bitcoin needs to be regulated, like any other business.

Yes this is BS.
That is about 2.1 million bitcoins stolen, i think.
If it is all true, it was probably fake bitcoins or CNY trading like Mt.Gox, no actual losses.

bitcoin or the various exchanges ? It is not simple as you think.

This.

I hope this doesn't have something to do with FonziePonzie.
500 Mil USD being on that exchange is absurd

And this almost explains that Op is lying: https://bitcointalk.org/index.php?topic=948826.msg10390228#msg10390228

If this mycoin.hk exchange is on the caliber of Mtgox before it went down, they why haven't we seen it mentioned a lot? Bitfinex is based in Taiwan, which gets referenced all the time.

So you think by trying to discredit my person you will make the news that appeared on yahoo and many other places less real? argumentum ad hominem
Don´t kill the mesenger.

 :)

The victims are exaggerating the "estimated" loss. See my reply above.

Yeah I already mentioned that he might trie to panic here! He is a typical bear! You just have to check his posts.

Yahoo is now reporting the same amount, just like the other website did.

ここから本文です
損失460億円相当か＝香港のビットコイン取引所閉鎖

時事通信 2月8日(日)19時7分配信

　【香港時事】インターネット上の仮想通貨「ビットコイン」を扱う香港の私設取引所「マイコイン」が顧客に連絡しないまま、閉鎖されたことが分かった。地元ラジオによると、顧客から相談を受けた立法会（議会）の梁耀忠議員は8日、記者会見し、香港の顧客は約3000人で、約30億香港ドル（約460億円）相当のビットコインが引き出せなくなったようだと説明した。
　一部の香港メディアは「だまし取られた可能性がある」と報道。梁議員は「11日に顧客が警察に届け出る」と語った。取引所の責任者とは全く連絡が取れないという。

Google translate:

"[...][Hong Kong affairs ]イnn center have NekoッSuites on There Fan think inflation " BldgッSuites Uイnn " wo Qi u Hong Kong There kangaroo take the lead as " microspheres were Uイnn " ga customer ni Contact Shinano I ma ma , blocking Connecticut re ta ko To ga points kaっta . Earth element ra jiオni yo ru To , customer kara talk wo by ke ta Legislative Council ( parliament ) There Leung Yiu-chung wa 8, the reporter met shi , Hong Kong There customer wa about 3,000 peopleで, about 3 billion Hong KongドHikaru ( approximately 46 billion yen ) fairly There BldgッSuites Uイnn ki ga lead out na na ku se yo uっta da ta shi To illustrate .[...]"

If im not mistaken, those are not real yahoo news, but article created by users.
Seen enough trolling over the years, and if its not on coindesk, i dont believe it.
Bitcoin probably will go under 200$, but not because of false news hoaxes :]

Sarcasm?

BTW here is another one:

http://hk.apple.nextmedia.com/news/art/20150208/19034053

lol going round in circles.
back at square one

Andreas said this a million times: It will keep happening. If you dont have the coins in your wallets they arent your keys anymore.
If you want to risk it wait for Gemini, they seem the only serious centralized exchange in the making.

http://www.chinatimes.com/realtimenews/20150208002335-260410 (http://www.chinatimes.com/realtimenews/20150208002335-260410)

There's no smoke without a fire, but I'll wait till Monday afternoon (HK time) to find out how bad it is. They talk about 3 billions HK$, that's 386 millions US$. I think there's a mistake here.

Here is an msn page about it, but it's lost much through Google translation, and the original source is a Hong Kong website. I cannot find any decent pages about it in English yet.

http://translate.google.co.uk/translate?hl=en&sl=zh-TW&u=http://www.msn.com/zh-hk/news/national/%25E8%258B%25A6%25E4%25B8%25BB%25E6%258C%2587%25E5%25B8%25AB%25E7%2588%25BA%25E6%2593%2585%25E8%2587%25AA%25E8%25B3%25BC%25E5%2585%25A5130%25E8%2590%25AC%25E5%2585%2583%25E6%25AF%2594%25E7%2589%25B9%25E5%25B9%25A3/ar-AA97xIx&prev=search

The market hasnt moved one bit in hours so im not buying it as important news, it probably happened but not that much of a big deal.

you are goxxed!

https://i.imgur.com/9fEN4EO.jpg

Well i guess for the victims it is kind of a big deal...

I had never heard of them until now, but I don't usually check out the Chinese exchanges. I put their site through Google translate and it appears to be a combination of exchange, cloud mining, online wallet, games, etc.

http://s24.postimg.org/ub4lzvmth/mycoin.png

Shit like this if true, could also help dry up supply causing the price to skyrocket… Its supply and demand, not moral ethical happenings or lack there of that drive the price.

something surely happened but they pumped the numbers

Just like the 800k missing coins from MtGox helped the price skyrocketing... :D :D

It is a report from someone shorting the market ;)

Bitcoin is massively own by Americans which it could be a problem for other countries.

"The HK$3 billion figure is based on an earlier statement by the company that it had 3,000 clients in Hong Kong, each investing an average HK$1 million."

and

"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. Extra profits and prizes such as a Mercedes car or cash prizes would be paid if an investor found more new clients."

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

This is a good point. If it had that much bitcoin worth of customer funds then it would likely have sufficient trading volume so that it would be a highly cited/known exchange. To put things in perspective, assuming an exchange rate of $250 (significantly higher then bitcoin is trading at now) then it would mean they ran away with 2 million BTC, gox on the other hand was by far the largest exchange and only had ~800k BTC of customer funds.

Does anyone really believe that an exchange with ~2.5x the amount of deposits as gox is really unknown to most of the bitcoin community?

---

However to be fair, I would not be surprised if we see a number of Chinese exchanges "disappear" with customer funds, although the amount lost will probably not be quite as large. It would also be possible that this exchange really did run away with customer money but the amount stolen is significantly less.

So they were a ponzi then. Anyone who "invests" money with the understanding they will get 2.5x the amount of money back in four months is asking to get their money stolen from them

Yes I think it was also a ponzi scheme, and not only a normal "exchange". However maybe it is better to wait more news regarding the fact.

Once again bull scammers tried to betray everyone by denying the truth. Be careful with any advices of these three people above. They are just trying to unload their bags @ higher prices, waiting for the next bigger fool to buy them out, just like dozens of other bull scammers on this board!

http://i59.tinypic.com/15i0ze8.jpg

Once again so called BTC news sites (bull scammers) like coindesk just don´t write anything about it.
But you could expect huge headlines if another hot dog shop in Mexico would accept Bitcoin.

Agree, no way that its true
Fake spam

We will see in couple days truth.

a mining contract scam probably isnt gonna crash bitcoin any more than an asic manufacture scam would crash bitcoin .

Agreed, OP should be banned for repeatedly trying to spread untrue FUD.

Edit: The English version could simply be picking up on the fake news. Either way Fonzie is a perma-bear with a shady reputation.

Lol, why didn't you include a link to the article? Here it is:

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

According to it, Mycoin was just another investment ponzi, not a trading platform. Probably they didn't deal with a single satoshi, just used "bitcoin" as a lure (explain potential unrealistic ROI).

Have you ever asked yourself a question how's it possible that 'exchange', that no one heard about, is dealing with 1/6th of total market cap?

HK$3 billion is based on info from Mycoin, so probably the real figure is much smaller.

This tells everything about that 'exchange':

Are you stupid? Can you even read? Do you think all those articles are made up? Did the bitcoin bearmarket destroy your brain, or are you just another typical bull scammer who is trying to discredit everyone and everything telling the truth?

I am not sure I 100% believe the facts quoted in the article. I would say it is more likely that the exchange exaggerated the amount of money they were holding on behalf of their customers in order to attract more business.

There is a Chinese mycoin thread here that says they were limiting withdrawals in December. Here is the Google translated version.

http://translate.google.co.uk/translate?hl=en&sl=zh-CN&u=https://bitcointalk.org/index.php%3Ftopic%3D887200.0&prev=search

One post there says this

mycoin This platform is now also limiting withdrawals
Bitcoins can withdraw cash at the same time the number refers to sell to buy 50% BTC number, for example: buy 3 BTC, sell a BTC, currently available number of withdrawals 0.5 BTC

Can you even read, Fonzi? Are you stupid, or a liar?
It was a Ponzi, why isn't that fact in your thread title?

I'm afraid, these investors have never seen a single satoshi, just like most of the stock traders never get their hands on a stock. That exchange has never owned any serious amount of bitcoin otherwise their wallet will be easily identified. But the clients might have lost that much money just like in a casino  8)

What a weak attempt trying to justify your false accusations.


BTW: I did write Mtgox which is just another synonym for a ponzi.  :D

Mt.gox wasn't a ponzi, it was a pure inside job ripoff, and CEO of mt.gox was a nobody who was in over his abilities,
please note the before he was trading magic the gathering cards..

Anyways, its now clear that this site has nothing to do with bitcoin price, and your title is definetly over exaggerated.
cheers

Can you please take this opportunity to advise how and when ANX has "run away with customer funds"?

Let's clarify a few items:

• ANX launched in June 2013
• Is a registered Hong Kong entity with a Money Services Operator license
• has always relied on complete transparency
• has welcomed thousands of customers to its offices on Hong Kong island
• Is audited by a third party for both fiat and crypto reserves
• has recently acquired Norways largest exchange, Justcoin.com aswell as CoinMKT.com in the US

seems legit

So the btc price hasn't changed since fonzie tries to panic.
Nothing big to deal with is my conclusion. Bye.

EDIT: Thanks for user "hknews" for clearing things up.

"Some one please translate this article in Chinese and hand it to the Hong Kong media please


Today a fake news about "A Hong Kong based exchanger mycoin.hk run off with 3 billion HKD (around 380 million US dollar)" came out in public, however the number of money lost in this news are FAKE!

Remember the $10 dollar fake bitcoins sold at Mtgox's last life cycle? If you took the risk to buy 1000 of them, can you say you lost 1000 * $220 current market price = 220,000 dollars? Well Hong Kong media definitely do so, same thing is happening again with mycoin.hk.Most bitcoins lost at there were bought at less than $20 US dollars!


news link:
http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company
http://money.udn.com/storypage.php?sub_id=5603&art_id=696371
http://cablenews.i-cable.com/webapps/news_video/index.php?news_id=451648
....

These news are ALL USING THE FAKE NUMBER


Most Hong Kong local news reporters don't understand the whole thing or just make up this huge number to create the "big lost" story in the name of bitcoin(new tech + big lost always take eye-balls),

I will show you how this "3 billion Hong Kong dollars" was made out:

Mycoin.hk is the runoff exchanger here (NOT mycoin.com, some media reporters mistaken reporting the exchanger's website domain), This exchanger has a really small market share, even smaller than kraken.com, it used to have around 500 btcs trades per day but about a half year ago it started to delay and stop processing client's withdrawals, since it's too small not many people even know about it, only some of their clients talked about it at months ago.

Mycoin.hk also set the daily bitcoin withdraw limit to 0.5 btc per day(since 3-5 months ago), then 0.1 per day(since about 2-3 months ago), then 0.01 per day(since 1-2 months ago), during this crazy time, bitcoin price traded on their exchange market dropped from market price to $500HKD $200HKD $100HKD $50HKD $20HKD $10HKD.. There are two reasons of this drop: First, the exchanger was trying to attract fiat deposits and stop clients from asking withdrawals like the Mtgox did, almost every Chinese including Hong Kong citizens kept warning/laughing at this old trick, however there are always some people would take the risk and made deposits to buy their "super cheap coins" and hoping may be they can withdraw again someday, Second, the exchanger was trying to pretend everything is fine and their trading activity is still high.

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.

The interesting thing is now the media journalists sum all the bitcoins in mycoin.hk's clients accounts and get the 3 billions HKD number from:
Amount of fake and super cheap bitcoin * current market price = 3 billions HKD <-- well, this is fake because most of bitcoins there never existed and were "bought" by risk takers and existing desperate clients at a price from $500hkd(60 USD) to $100hkd(16 USD) to $10hkd(1.2 USD) in recent months.

In conclusion, A really small exchanger gone down, less than may be let's say half million HKD(including real bitcoins deposited at there) is lost (because mycoin.hk stop processing withdrawals at long time ago, some real clients must have lost something), "100000000+" or whatever fake bicoins bought at there at a super discount price (99.9% off) are also gone, a so call "3 billions HKD (300 millions USD) lost" was added up by media reporters with a formula "never existed & super cheap fake coins" * current market price = "fake 3 billions HKD"

If you are waiting for those "never existed & super cheap fake coins" dump into the market, not gonna happen,
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

That's it, thank you for reading, and please, if someone know or connected to the Hong Kong news  media please ask them to correct this outrageous howler."

HOLY SHIT! IT´S CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!

You are desperate, aren't you, fonzie ponzie?

News about the situation:


"MyCoin now value its bitcoins at only HK$20 per unit compared to the international bitcoin price of around HK$1,727 (US$222) on Monday.

The aggrieved clients, who claim MyCoin is a pyramid scheme packaged as bitcoin trading, said they had been unable to contact the company’s management, while sales staff at higher levels claimed they too had been the victims of deception."


Source : http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules

That´s even more discount than Gox gave at the end.

This is the article of coindesk :

"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.

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."



http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/

price will go doooooooown

He likes to bend the facts. 

Fail.

Try again with red font + bigger size

I've already deposited some money and I'm ready to buy! :)

So it really happened ?
China are good in banning stuff (Google , Gmail etc ...) , now they will block the whole Bitcoin and R.I.P Price , It will probably affect a lot on Bitcoin price since they have a lot of users there (I guess .. since they 1 billion citizens) :o

~ Madness

I don't know , for the moment the price is stable. As you see from the various charts:

- https://bitcoinwisdom.com/markets/huobi/btccny
- https://bitcoinwisdom.com/markets/btcchina/btccny
- https://bitcoinwisdom.com/markets/okcoin/btccny

Only a little dump.

New "regulations"( Total bans) will probably be introduced by the PBOC in the next 2-3 weeks, maybe earlier. We´ll see.

Yes, but probably it's not even bitcoin related. From coindesk article:


So basically they just targeted a group of wealthy but gullible older people to make them 'invest' in the ponzi. They had to give them some bullshit explanation on how they're going to make them such unrealistic ROI, so they just used "Bitcoin" for that.

Topic's title needs to be changed. This is not about an exchange like MtGox but a company which was selling dubious investments, ponzi-like somehow related to BTC.

The op seems to be anti-bitcoin. He is directing it exactly like what serves his purpose.

Maybe you are right , or maybe  he only wants to buy some cheap bitcoin (I don't know).

in the bitcoin world you know straight away who is short or long on any given time.

he is actually right. it seems op has also been fuding on the speculation thread,

this has nothing to do with bitcoin other than they used it's name in their pitch. In previous years it always seemed like Forex trading was the popular ponzi line, saying they are experienced Forex traders to try to hook people in. Forex was the ideal thing to use as it's volatile, so now it seems that one of them chose Bitcoin as a way to try to explain how they give unrealistic returns.

This was a FIAT ponzi and nothing to do with bitcoin, OP is just a FUD troll and has no clue what he's talking about. People were investing $1m HK not BTC, it' really very simple. The company never did anything with bitcoin, they just took the money and ran.

This is the article on Finance.yahoo.com:

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.



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

 :o Impressive

Thanks, for the update!

This is no where near the scale of MT. GOX.  The articles say the operators were promising returns of 200-300% annually.  Some sort of bitcoin derivative.  BUt I don't think they actually did anything but use Bitcoin as a marketing "phrase" and bring in new investors.

That Mycoin company was using the BTC aura to serve its own interest, it could as well have promised some anti-aging medicine. The only goal was to lure naive investors of a huge return. BTC should not crash because of this.

It will probably trigger new and tighter regulations in China. Also a lot of new potential BTC buyers in China might turn away from Bitcoin due to the news and think twice about puttin money into BTC. The name BTC will now, more than before, be linked to a ponzi in the mind of the chinese, which results in less demand for BTC at real exchanges. Therefore price will probably go down more, altough not in a flash crash.

"The name BTC will now, more than before, be linked to a ponzi in the mind of the chinese..."

1) The Chinese still remember Bernie Madoff, and this, more than before, links the USD to a huge Ponzi.
2) This fact will contribute to crashing the Dollar much worse than you can ever imagine.
3) Bitcoin/USD will have an amazing rally, but keep an eye on btc/Gold since that will bring real gains, while your paper profits will be almost worthless.

I would bet no actual bitcoins have been lost or made their way into criminal hands.  What we're looking at here is a good old fashioned pyramid scheme that attracted suckers because they slapped bitcoin on the box.

It does harm the reputation of bitcoin as more people will now associate "bitcoin" with "scam" and it may attract unwelcome Chinese government regulation, but no, this is not a Gox event.  Yes, there are plenty of scams involving yuan, dollars, euros etc.  The problem bitcoin has is the brand is so strongly associated with such problems.

FUD = FACTS U DISLIKE?!



Stop embarrassing yourself. I can smell the reek of your butthurt bagholder attitude through my monitor. Cut your losses and get on with life.
Protip: Next time sell earlier.

I think it's not worth talking about it so much

TAKE THAT BULLTARD SCAMMERS!
All my presumptions are becoming true!

http://www.nytimes.com/2015/02/11/business/international/hong-kong-issues-warning-about-bitcoin.html?_r=2

"HONG KONG — Hong Kong’s central bank has warned against investing in virtual currencies, amid local media reports that a Bitcoin exchange may have run off with $387 million in client funds in what could be the biggest Bitcoin scandal after last year’s bankruptcy at the Mt. Gox exchange, based in Tokyo.

The South China Morning Post reported on Monday that clients of the MyCoin exchange, based in Hong Kong, had approached a local lawmaker, saying the company had absconded with their money. An assistant for Legislative Council member Leung Yiu-chung said that Mr. Leung had received more than 15 complaints from MyCoin clients regarding the allegations and that these would be passed on to the police on Wednesday.

The Hong Kong Monetary Authority said in a statement late Monday that the case “may involve fraud or pyramid schemes,” adding: “Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin.”

Calls to MyCoin in Hong Kong could not be connected. Calls to the company’s China customer service line were not answered.

Bitcoins are created through a “mining” process in which a computer’s resources are used to perform millions of calculations.

Advocates say the virtual currency is revolutionary because it is not controlled by a central bank and has potential as an alternative means of online payment. But the rise of Bitcoin, which is unregulated in many places, including Hong Kong, has stoked concerns that it can be used to launder money and finance extremist groups.

Mt. Gox, once the world’s largest Bitcoin exchange, filed for bankruptcy a year ago after it claimed to have lost about $500 million worth of customer Bitcoins in a hacking attack.

On its website, MyCoin says it is a “leading global Bitcoin trading platform and application service provider,” with a research and development team based in China.

MyCoin promised clients a return of one million Hong Kong dollars, or $128,976, over a four-month period based on a 400,000-dollar investment that would produce 90 bitcoins on maturity, the South China Morning Post reported.

The report added that MyCoin claimed to have 3,000 customers, each investing an average of one million dollars.

The price of a Bitcoin has slumped from a late-2013 high of more than $1,000 to about $220, according to CoinDesk’s price index."

Fonzie can you change the title of thread? mycoin wasn't originally an exchange but a ponzi scheme. Thanks.

Ok, if you think it fits better, no problem  :)

Oh thanks, now it is perfect.

Tighter regulations(total bans) for bitcoin exchanges in China(Hongkong) will most likely be established pretty soon. Byebye Bitfinex, Huobi and whatelse.

What are the guys in the huge chinese bitcoin mine on the vice documentary going to do if China totally bans BTC?

Price hasn't changed so I doubt that the 500 million was relaly lost. Huge amount for bitcoin.

I think only the FIAT  (HK$ 3 b = $ 370 mln) was stolen , none of the articles that I've read said they have robbed directly bitcoin.

I think Btc - China is registered in HK too even they illegally operates from mainland China :)

You have re-exposed yourself. Please, try to contribute something more valuable next time.

I don't think they had a single btc in their coffers.

No you idiot, i just made a pretty good prediction:



Look what just came in:

Hongkong wants to urge a ban on Bitcoin:


"The government should clamp down on bitcoin, said lawmakers Leung Yiu-chung and James To, who accompanied the complainants, among them Nepalese and mainland Chinese, as well as Hong Kong citizens.

"The government should not just stand aside," Leung told reporters. "It's simply not enough to just ask people to exercise caution when investing ... it has to ban the circulation of such virtual currency in the market.""

http://uk.reuters.com/article/2015/02/11/uk-fraud-bitcoin-hongkong-idUKKBN0LF0WV20150211


Keep on denying bulltard