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

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

 


 
 

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