Mt Gox Looks Like Bitcoin Fraud, Says Japanese Press Report

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Mark Melin
Published on
Updated on

It has been a difficult year for Bitcoin, and now confirmation from investigative authorities in Japan working on the Mt Gox “disappearance” of customer bitcoins appears to be making things worse. Bitcoin down near $316 As the digital currency / payment method is trading down near $316 to start 2015, after reaching a high near $1,200 earlier in 2014, suspicions regarding fraud surrounding the disappearance of nearly $341 million from the Mt. Gox exchange continue to dog Bitcoin’s future. This comes as a Japanese newspaper is reporting that Tokyo’s Metropolitan Police Department believes that 99 percent of the bitcoins in question…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.