NEW YORK (InsideBitcoins) — The mystery of MyCoin keeps growing. The Hong Kong-based bitcoin trading platform has been apparently abandoned by its owners,
taking the likely Ponzi scheme profits with them. Media reports say
some 3,000 investors might be impacted, with losses mounting to $3
billion HK, some $387 million USD.
The South China Morning Post is reporting that William Dennis Atwood, the sole director of the company, resigned in November, just prior to the trading platform barring withdrawals. The Post says records show Atwood transferred all of the shares he held in the MyCoin to a British Virgin Islands-based company called Fascinating Horizon Overseas Ltd.
In spite of the fact that thousands of investors may have been scammed by the fraud, only 30 are reported to be filing reports with Hong Kong authorities. The investigation will not be an easy task: reports claim that clients were not provided with written statements or receipts regarding their investments, just access to records on the online trading platform.
Read more at Click here / www.trade4x.net
The South China Morning Post is reporting that William Dennis Atwood, the sole director of the company, resigned in November, just prior to the trading platform barring withdrawals. The Post says records show Atwood transferred all of the shares he held in the MyCoin to a British Virgin Islands-based company called Fascinating Horizon Overseas Ltd.
In spite of the fact that thousands of investors may have been scammed by the fraud, only 30 are reported to be filing reports with Hong Kong authorities. The investigation will not be an easy task: reports claim that clients were not provided with written statements or receipts regarding their investments, just access to records on the online trading platform.
Read more at Click here / www.trade4x.net
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