MyCoin Customers Report $8.1 Million in Losses to Hong Kong Police

The Hong Kong Commercial Crime Bureau (CCB) is conducting an initial investigation into claimed unlawful activities that might have happened at defunct bitcoin exchange MyCoin.

The CCB reports that 43 investors in between 21 and 71 years of ages lost anywhere in between HK$ 50,000 to HK$ 15m each when the exchange stopped operations. Such quotes would position the overall consumer loss at HK$ 63m, or $ 8.12 m at press time.

Local media reported Monday that the complete losses might have been as high as $ 387m, however, these figures were based upon the exchange’s own quotes of its company volume.Continue reading

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