Where did the $6.25 billion in bitcoin go?
By Hope
@1hopefulman (45123)
Canada
March 7, 2018 11:42am CST
"The CEO of hacked bitcoin exchange Mt Gox which lost £4.5 billion of its customers' cryptocurrency" Yahoo
That's a lot of money! That's a loss for many people.
Where did the $6.25 billion in bitcoin that was hacked go? Did it just vanish and all the owners of the bitcoin lose their money? Is there no way to recover all this money?
Did the bitcoin become the byecoin for many people?
Have you heard about that? Do you understand this situation?
Any thoughts on this?
Mark Karpeles, the CEO of hacked bitcoin exchange Mt Gox which lost £4.5 billion of its customers' cryptocurrency, described in a new interview what it was like to realise that his exchange had been hacked. "I would say it's probably very close to like whe
9 people like this
8 responses
@AkoPinay (11544)
• Philippines
8 Mar 18
Even banks get hacked ;) keeping Bitcoin ONLINE like keeping funds on PayPal can be hacked that is why it is NOT RECOMMENDED. Bitcoin and other CryptoCurrencies MUST be kept OFFLINE (hardware wallets like Trezor, Ledger, etc.) to be safe. :)
2 people like this
@1hopefulman (45123)
• Canada
8 Mar 18
Yes, it's a lot of money and it seems that many investors will lose something.
1 person likes this
@LadyDuck (457315)
• Switzerland
8 Mar 18
@1hopefulman Many investors have already lost everything. I think that only a few are making money in this game. They made people think they can become rich in a short time, but only a few make money.
1 person likes this
@RasmaSandra (73167)
• Daytona Beach, Florida
7 Mar 18
I think someone should start looking for a trail that leads to offshore banks. Just saying I got a feeling on this one. I forgot what incident there was but also billions were lost and then one day found in an offshore account and the loses were the top guys who were living the high life.
5 people like this
@1hopefulman (45123)
• Canada
9 Mar 18
@RasmaSandra Yes, I hope they can find it and give back to the rightful owners.
1 person likes this
@Freelanzer (10745)
• Canada
7 Mar 18
That is why I never trusted bitcoin plus I never fully understood the concept of money floating around someplace in space
3 people like this
@AkoPinay (11544)
• Philippines
8 Mar 18
Bitcoin is good as cash. It is just a DIGITAL CURRENCY. We use PayPal for Dollar and we can use Coinbase.com for Bitcoin to be transferred and automatically converted it to cash (transfer to bank accounts) if we are in the USA.
Other countries have their own "payment processors". If we use same "payment processor" we can also send/receive funds using an email address just like PayPal. But if we are using different "payment processor" i.e. You are sending Bitcoin thru Coinbase.com to my Payza account, we use the alphanumeric address.
1 person likes this
@1hopefulman (45123)
• Canada
15 Mar 18
I really don't understand it but accounts can be hacked and money can be robbed.
1 person likes this
@1hopefulman (45123)
• Canada
15 Mar 18
@db20747 I think they located some of it.
1 person likes this
@db20747 (43425)
• Washington, District Of Columbia
15 Mar 18
@1hopefulman that's unusual. I can see money being lost in a stockarket scam, or physically taken in a robbery in a bank. Maybe he transferred it into another account somewhere like the swiss bank. Did they locate it?!
1 person likes this
@1hopefulman (45123)
• Canada
9 Mar 18
@Daelii I guess it's like any other money one may have, somebody can come and steal it and it's gone.
1 person likes this
@Daelii (5619)
• United States
9 Mar 18
@1hopefulman that's so crazy! I am glad I never had extra money to consider letting it sit in some online thing!
1 person likes this
@1hopefulman (45123)
• Canada
9 Mar 18
@Icydoll I think there are many sad people because of this loss.
1 person likes this
@AkoPinay (11544)
• Philippines
8 Mar 18
That's why we should not keep more funds online. If we want to invest more, even exchanges recommend to keep our funds offline. Just like PayPal, it is NOT wise to keep our funds there, it is safer in our safety vault. LOL! The internet is not safe.
2 people like this
@averygirl72 (37715)
• Philippines
9 Mar 18
That sounds bad. I don't understand bitcoin so I don't try it
1 person likes this
@1hopefulman (45123)
• Canada
9 Mar 18
It seems on the internet things can be hacked and robbed very quickly.