- Token Economy
Time: Between May 2013 to October 2013
Date of shutdown: 2013-10-26
Victim: Chinese investors in “GBL”.
Amount: Estimate 22000 BTC
Equivalent in USD: 3437446 $
Equivalent in January 2014 BTC: 4190 BTC
Beijing-based “GBL” was advertised as a Hong Kong-based exchange and shut down after attracting significant investment. At the time, there was a Bitcoin craze in China, which lasted for much of the latter half of 2013 and was credited as the leading cause of the November 2013 bubble.
Kadhim Shubbe, “$4.1m goes missing as Chinese bitcoin trading platform GBL vanishes”.