Rampant thefts are taking the shine off cryptocurrencies. After the Mt. Gox debacle, Kim Nilsson decided to fight back.
Kim Nilsson was seething. It was 2014, and the software engineer discovered someone had disabled access to his bitcoins. A crime had apparently been committed, one that the police seemed unable to comprehend, much less solve.
The coins went missing from a failed bitcoin exchange called Mt. Gox, and hundreds of investors found themselves demoralized, if not broke. More than $400 million had seemingly vanished into cyberspace.