Hong Kong bitcoin exchange disappears with 254 million

[Altima]

Hmm, this HK exchange was too good to be true.

http://www.businessinsider.com/mycoin-ponzi-scheme-allegations-losses-2015-2

 

[mmm....shiney!]

Can't access link but we all know not to leave cryptos stored in exchanges.

 

[screaming eagle]

It appears they didn't run off with any cryptos, they just fleeced investors cash invested in 'mining rigs' - a simple ponzi scheme.