Gone: Bitcoin trading company abruptly closes, sparking scam worries

Investors in MyCoin fear they have fallen victim to a scam after it closed down suddenly — with up to $387 million possible in losses. One investor, who invested roughly $168,000, said that salespeople promised her that she would recoup her investment within four months, and would make between 200 and 300% profit within a year. Bitcoin, created in 2009 with little to no regulation, is worth about $285, significantly down from a 2013 high of $1,200 per coin.

The number of cases is increasing. These two days I received calls about more than 30 cases.

Leung Yiu-chung, Hong Kong lawmaker

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