Roger Nils-Jones Karlsson, 45, communicated with his victims encouraging their investment in various fictitious schemes.
Jeremy Spence bilked his investors out of $5 million, according to a criminal complaint.
The securities regulator added eight suspect crypto entities to its watchlist Thursday.
Hundreds of locals who used to eagerly gather outside the Bitcoin Wallet office in Ladysmith, South Africa are now mobbing the office to demand their money back.
President Trump has signed an executive order establishing a new task force that targets consumer fraud, including those involving "digital currency."