Three men charged over $722 million cryptocurrency fraud - a “high-tech Ponzi scheme”
Here's an interesting read on Bloomberg regarding BitClub Network, with 3 men charged with wire fraud offences while 2 remain to be apprehended.
- Ran it from 2014 until this month
- solicited money from investors in exchange for shares in purported cryptocurrency mining pools
- rewarded them for recruiting new investors
The three have been charged with conspiracy to commit wire fraud and conspiracy to sell unregistered securities
Here is the link for more. A never ending cesspit ….
While on cryptos, BTC update: