UPDATED: Startup Fraud Makes Money Disappear-Like Magic!
UPDATED: Hackers responsible for magically missing money. Should we wait for CEO denial of involvement a la Gov. Christie?
In not at all shocking news that continues to support that The Sociopathic Business Model™ is alive and well: Mt.Gox a company which let people swap real money for Bitcoins, and vice versa announced and via their CEO, Mike Karpele, announced today, that the money’s gone and they don’t know where it ‘is.’ (a Bill Clinton ‘is’ one would likely ask?)
Mt.Gox which stands for: Magic: The Gathering Online Exchange, certainly lived up to their name today-the money magically disappeared.
We will likely see more startup fraud in the future, as the widely held theory that startups are off the governement’s radar is encouraged, replicated and rewarded.