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Financial Services

Staff Reporter

, Hong Kong

Published:

10 years ago

Bitcoin trading platform in Hong Kong goes poof

Global Bond Ltd disappears taking US$5 million with it.

The unknown persons running Bitcoin trading platform GBL could have absconded with as much as US$5 million in investments from 500 investors, many of them from the Mainland.

One investor told media that after the GBL's website shut down, it left only one message, saying that the site was compromised and investors who want to get back their investment data should transfer money to a designated account.

He said the persons behind the website are not responding, and that the company’s office in Hong Kong is empty. GBL opened the virtual currency exchange last June 8.

Bitcoin is a distributed, peer-to-peer digital currency that functions without regulation by any central authority. Speculators have been attracted to bitcoin, leading to volatility and price swings.

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