Summary: Bitcoin exchange MyCoin has vanished -- leaving up to $387 million in investor funds unaccounted for.

 

By Charlie Osborne for Zero Day | February 10, 2015

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Bitcoin exchange MyCoin has closed its doors, potentially leaving up to 3,000 investors out of pocket.

The closure of the Bitcoin exchange was originally reported by the South China Morning Post on Monday. MyCoin, a supposed Hong Kong-based virtual currency trading exchange, has reportedly closed its doors leaving as many as 3,000 local investors with combined losses of HK$3 billion ($387 million).

Bitcoin exchanges are no stranger to closures and controversy. The most famous example is that of Mt. Gox, once one of the dominant Bitcoin exchanges online. Tokyo-based Mt. Gox closed its doors without warning in February last year, filing for bankruptcy and leaving investors approximately $500 million out of pocket. The closure of Mt. Gox was followed by others struck by cyberattack, including Flexcoin, Poloniex and Bitcurex.

 

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