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45 percent of Bitcoin exchanges fail and take users money

Study: 45 percent of Bitcoin exchanges end up closing (Wired UK): "A study of the Bitcoin exchange industry has found that 45 percent of exchanges fail, taking their users' money with them. Those that survive are the ones that handle the most traffic -- but they are also the exchanges that suffer the greatest number of cyber attacks. Computer scientists Tyler Moore (from the Southern Methodist University, Dallas) and Nicolas Christin (of Carnegie Mellon University) found 40 exchanges on the web which offered a service of changing bitcoins into other fiat currencies or back again. Of those 40, 18 have gone out of business -- 13 closing without warning, and five closing after suffering security breaches that forced them to close. Four other exchanges have suffered serious attacks but remain open. . . ."

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