Only a month after Mt. Gox, one of the biggest bitcoin exchanges in the world, went bankrupt, a second exchange has permanently closed its doors due to theft.
Mt. Gox folded due to massive mismanagement, losing millions in bitcoins when it abruptly closed early in February. A major contributor to the closing occurred after the virtual currency exchange found it had been hacked and $500 million in bitcoin stolen.
It is estimated that Mt. Gox has some $64 million in liabilities after the shut down with about seven percent of all bitcoins in existence disappearing with the failure.
Now, bitcoin exchange service Flexcoin has also announced its failure due to theft by hacking.
A Second BitCoin Exchange Goes Bankrupt
Mt. Gox folded due to massive mismanagement, losing millions in bitcoins when it abruptly closed early in February. A major contributor to the closing occurred after the virtual currency exchange found it had been hacked and $500 million in bitcoin stolen.
It is estimated that Mt. Gox has some $64 million in liabilities after the shut down with about seven percent of all bitcoins in existence disappearing with the failure.
Now, bitcoin exchange service Flexcoin has also announced its failure due to theft by hacking.
A Second BitCoin Exchange Goes Bankrupt
