The SEC has filed charges against five promoters of the alleged crypto fraud. It's a chance to learn from the mistakes of Trevon James and Co.
Bitconnect collapsed in 2018 after state regulators in Texas and North Carolina filed cease-and-desist letters against its lending and exchange platform.
A U.S. district court entered a default judgment against an Australian citizen residing in the U.S. and a Nevada corporation for a cryptocurrency fraud and misappropriation scheme, the Commodity Futures Trading Commission said Thursday.
Shawn Cutting allegedly claimed to be an experienced financial adviser to raise funds from over 450 investors.
“At the point something becomes a Ponzi scheme, we have lost our jurisdiction,” a regulator told Bloomberg.
The judge scheduled a restitution hearing for victim investors this summer.
Jose Angel Aman, charged with operating the fraudulent investment scheme, was sentenced to serve six years in federal prison and pay over $23 million in victim restitution by a federal court in Florida.
The accused, Gutemberg Dos Santos, has been charged in an indictment and was extradited from Panama on Nov. 25.
Cryptocurrencies worth billions of dollars have been seized during the police crackdown on the PlusToken Ponzi scheme in China.
Venture Capital Investments Ltd. raised $534,829 from 72 victims, falsely promising to invest funds in bitcoin and other assets.
Besides facing criminal charges, the accused pseudo-pastors were charged by the CFTC and the SEC with allegedly soliciting over 1,000 people for a fake crypto fund.
U.S. authorities are trying to return $6.5 million in bitcoin and tether to the victims of an alleged Ponzi scheme.
NEW: The Ontario Securities Commission has published a scathing report calling now-defunct Canadian exchange QuadrigaCX a "Ponzi," and denouncing the practices of founder and CEO Gerald Cotten.
The CFTC is charging Breonna Clark and Venture Capital Investments with defrauding investors by pretending to run a commodity pool invested in crypto and foreign currency contracts.
The U.S. Securities and Exchange Commission has taken action over what it alleges is a $30 million crypto scam based on supposed diamond investment.