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.
Continue reading at CoinDesk