Chinese BTC exchange company disappeared

[EccLipSe]

http://www.geek.com/news/4-1-million-worth-of-bitcoins-goes-missing-as-chinese-exchange-gbl-disappears-1576967/

Is this biggest scam on btc ever?

Rate may be decrease in these days. If it is a scam they'll want to exchange it as USD to spend easier. It will create very big volatilite on btc. This pressure also may decrease value as much as 100 $.

[jeppe]

wow this would mean a major value decrease if they cash them in now. In the last 2 weeks 6 mill $ worth of bitcoins stolen :/ But this also proves that its newer safe to leave larger amounts  of bit coins in an exchange !! would recommend to those who have large amounts of bitcoin lying in exchanges to store them in offline wallets as it Is A lot more safe to store them offline and encrypted

[LiteCoinGuy]

http://www.coindesk.com/4-1m-goes-missing-chinese-bitcoin-trading-platform-gbl-vanishes/

yeah but if people store their coins on such a website, its okay they lost BTC.

in some years i guess there will be good and honest exchanges that also offer insurance over your btc or something like that.

[jeppe]

http://www.coindesk.com/4-1m-goes-missing-chinese-bitcoin-trading-platform-gbl-vanishes/

yeah but if people store their coins on such a website, its okay they lost BTC.

in some years i guess there will be good and honest exchanges that also offer insurance over your btc or something like that.

I think Insurance would be the next big thing for exchanges, and i would even then might be thinking about storing them online

[BadAss.Sx]

And if you think that was the last one:

http://www.coindesk.com/czech-bitcoin-exchange-bitcash-cz-hacked-4000-user-wallets-emptied/