Hong Kong Exchange MyCoin Disappears with Up To $387m, Reports Claim

Reports are arising from Hong Kong that regional bitcoin exchange MyCoin has shut its doors, taking with it potentially as much as HK$ 3bn ($ 386.9 m) in investor funds.

If real, the supposed losses are a shocking quantity, although this quote is based on the company’s own earlier claims that it served 3,000 clients who had invested HK$ 1m ($ 12,890) each.

For viewpoint, bitcoin’s entire market cap today stands at around USD$ 3bn.

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