28 Feb

MtGox and the future of Bitcoin

The recent collapse of the world’s largest Bitcoin exchange MtGox has been a tremendous loss for the Bitcoin community. The company acknowledged the losses of approximately 744,000 BTC, worth several hundreds of millions of dollars and approximately 6% of all the Bitcoins currently in existence. If stolen, the theft amounts to the second biggest financial theft in history, second only to the Bernie Madoff investment scandal.

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