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Hong Kong central bank warns against virtual currencies

Tuesday 10 February 2015 10:08 CET | News

Hong Kong’s central bank has warned customers against investing in virtual currencies.

This happens amid local media reports that a Bitcoin exchange may have run off with USD 387 million in client funds. Online media outlet The South China Morning Post reported that Hong Kong-based MyCoin had approached a local lawmaker alleging the company absconded with their money.

MyCoin promised clients a USD 128,976 return over a 4-month period based on an investment that would produce 90 Bitcoins on maturity.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, virtual currencies, Hong Kong, central bank
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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