The Hong Kong Commercial Crime Bureau (CCB) is conducting a preliminary investigation into alleged unlawful activities that may have occurred at defunct bitcoin exchange MyCoin.
The CCB reports that 43 investors between the ages of 21 and 71 years old lost anywhere between HK$50,000 to HK$15m each when the exchange ceased operations. Such estimates would place the total consumer loss at HK$63m, or $8.12m at press time.
Local media reported Monday that the total losses could have been as high as $387m, however, these figures were based on the exchange’s own estimates of its business volume.
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