Correction: Ponzi Scheme MyCoin Customers’ Losses were Exaggerated
It has been found out that the losses faced by the MyCoin customers were exaggerated in their initial estimates of $300m USD.
According to The Hong Kong Commercial Crime Bureau (CCB), the earlier reported amount was entirely miscalculated. The agency issued fresh reports that spoke of 43 victimized investors that might have tapped out between $HK50,000 to $HK1.5 million before the oldfangled Ponzi company disappeared. That estimates the total loss amount to be near $8 million, versus the whopping $387 million that was earlier reported by Hong Kong press.
This post was published at NewsBTC on February 12, 2015.