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WHERE IS OUR MONEY: $473 Million In Bitcoins Vaporized As Mt. Gox Exchange Files Bankruptcy

  Some $473,000,000 worth of BTC has simply vanished in what could be one of the largest digital heists in history. Investigators in Japan are inquiring into the unregulated exchange and the U.S. Federal government is also looking into it, but because of the nature of Bitcoin itself the money is, for all intents and purposes, gone. The operator of the exchange Mark Karpelès, who may or may not be involved in the disappearance of user funds has apologized for “causing trouble.”

If you don’t hold it in your hand, there is always the possibility of counter party risk, as is clearly the case with the Mt. Gox Bitcoin debacle.

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