Reports out of Hong Kong indicate that the MyCoin Exchange has just closed, locking out more than three thousand large investors. The closure has occurred almost one year to the day after the world’s largest Bitcoin exchange, Mt. Gox, closed off all exchange withdrawals on February 7th, 2014. That took almost 750,000 investor’s Bitcoins with it, plus 100k of the exchange’s cache. This sudden exchange closure has a potential combined value of three billion Hong Kong Dollars, which is equivalent to about $387 Million USD.MyCoin happens almost exactly one year after Mt. Gox
The investors affected would file reports on Wednesday with authorities in Hong Kong because deception was involved in a pyramid-style Ponzi scheme perpetuate by the exchange owners, packaged and sold as a bitcoin trading exchange.
