Chinese Bitcoin Exchange GBL Goes Missing Along With $4.1 Million of Client Funds
- GBL, a Beijing based exchange claiming to be registered in Hong Kong, was suspected to be a fraud since its inception earlier this year, on the 26th of October shut down and 1000 investors lost their money.
GBL, a Chinese Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange, which claimed to be based in Hong Kong, disappeared recently taking with it RMB¥25 million or $4.1 million worth of clients’ funds.
As Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates reported recently, Chinese investors' interest in the digital currency is ever-increasing which led to Bitcoin’s price to reach a new all-time high.
Another example has now arisen that, as happens with all financial markets, when the man on the street rushes to buy into a trend, scammers soon follow.
The exchange was only registered on the web, at domain www.btc-glb.com, on the 9th of May, 2013 and immediately raised suspicions among the Bitcoin online community. GBL did not provide any contact information on their site and it seemed that the site’s server was based in Beijing, contradicting its claim to be based in Hong Kong.
Over a thousand investors however, did not seem to notice the warning signs and on the 26th of October, when GBL vanished without a trace, lost all their money according to Chinese media reports.
GBL, a Chinese Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange, which claimed to be based in Hong Kong, disappeared recently taking with it RMB¥25 million or $4.1 million worth of clients’ funds.
As Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates reported recently, Chinese investors' interest in the digital currency is ever-increasing which led to Bitcoin’s price to reach a new all-time high.
Another example has now arisen that, as happens with all financial markets, when the man on the street rushes to buy into a trend, scammers soon follow.
The exchange was only registered on the web, at domain www.btc-glb.com, on the 9th of May, 2013 and immediately raised suspicions among the Bitcoin online community. GBL did not provide any contact information on their site and it seemed that the site’s server was based in Beijing, contradicting its claim to be based in Hong Kong.
Over a thousand investors however, did not seem to notice the warning signs and on the 26th of October, when GBL vanished without a trace, lost all their money according to Chinese media reports.