Hong Kong Exchange MyCoin Disappears with Up To $387m, Reports Claim

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Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds.

If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each.

For perspective, bitcoin's entire market cap today stands at around USD$3bn.

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