A Chinese bitcoin trading platform suddenly shut down and up to $5 million worth of bitcoin disappeared with it, a reminder of the great risk associated with the digital currency.
Users were unable to log into the Chinese bitcoin platform Global Bond Limited (GBL) on October 26, and as much as $5 million (30 million yuan) has disappeared with it.
The platform’s users had a “winning” streak of high yields and almost never “lost”, which made it something of an addictive investment.
Launched in May 2013, GBL claimed it was headquartered in Hong Kong, but users began to get suspicious when they traced the site’s server to Beijing.
GBL allegedly never received a license to sell and buy bitcoins and then vanished with clients digital investments, leaving no trace. Full story
