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Almost $500 million of bitcoins disappeared from a in Japan. The company is called Mt. Gox and it was one of the world's dealers in bitcoins. It shut down last after it lost 850,000 bitcoins, worth $473 million. The company's CEO said stole the digital currency. He apologised to on Thursday at Japan's Ministry of Justice. Thousands of investors are because they lost the money they invested in Mt. Gox. Bitcoin is a currency – it only exists for electronic payments. Anyone can buy and use bitcoins. There is no to open a bank account. Many people believe that bitcoins will replace money, coins and credit cards.

The of Mt. Gox did not surprise online finance . Many said it was an waiting to happen. They also said Bitcoin will recover from the Mt. Gox shock. There are no or laws to control Bitcoin so the collapse of Mt. Gox could mean a better will come. Companies will now make their security and governments might create laws to make Bitcoin safer. Barry Silbert, CEO of Bitcoin company SecondMarket, says the will bounce back. He told reporters: "If you look at the history of Bitcoin, there has been a of bubbles, busts, hacks and thefts. After every single , Bitcoin has emerged stronger."

 


 
 

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