International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Monday, February 16, 2015

MyCoin fraud of 3,000 customers' £250m or 43 investors of $8 million? Who to believe?

IBT reported that Bitcoin exchange MyCoin disappears with £250m in suspected Ponzi scheme.  

Bitcoin_euroBut BitCoin News Service countered that but now that the Hong Kong Commercial Crime Bureau (CCB) is involved, reports are saying that the amount lost only stands at around $8 million.  Furthermore, the amount of alleged victims has fallen from about 3,000 to 43 ...

Now IBT reports that MyCoin never actually held or traded any BitCoin, and was just a common Ponzi scheme.  

 

https://lawprofessors.typepad.com/intfinlaw/2015/02/mycoin-fraud-of-3000-customers-250m-or-43-investors-of-8-million-who-to-believe.html

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