Another Bitcoin scam - 22,858 bitcoin Ponzi scheme gets its head chopped off

Another Bitcoin scam - 22,858 bitcoin Ponzi scheme gets its head chopped off

By NassiroV | CryptoPress360 | 25 Aug 2020


Creepy letter in Westlake has scammers blackmailing residents for ...

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Pyramids end badly, in general  -  Days go by and look the same in the cryptosphere: scams proliferate, and there is no shortage of smart people ... However, they are often caught up: a certain Benjamin Reynolds goes elsewhere. learn the hard way. Explanations!

What you take, you will return

The story of Mr. Reynolds is not very original, if one relies on the account which is in fact by the media The Block : the latter would have set up a company called Control-Finance in 2017, allowing him to recover 22 858,822 bitcoins from uninformed investors .

He promised indeed amazing returns linked to a “trading activity” which had only the name: in reality , he was simply operating a pyramid of Ponzi all that is more classic.

Bitcoin, you will stay away

Mr Reynolds has since been forced to shut down his website following pressure from authorities in September 2017 . Still , according to Decrypt , he continued to correspond with some aggrieved investors, gaining time as he moved and turned residual holdings from his pyramid into hard currency , to accounts based in South Korea , Switzerland , Switzerland , Canada. Canada or the Seychelles .

The authorities are therefore seeking to obtain from justice the right to recover the $ 143 million stolen from investors who fell into the trap , but also to impose an additional fine of $ 429 million on the accused .

Mr. Reynolds never responded to requests from the CFTC, and it appears he is currently on the run. However, the accused could ultimately be obliged to pay the reparations requested of him. But for that, it will still be necessary that the American authorities obtain success and be able to attempt to seize the property of Mr. Reynolds in the United States.


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NassiroV
NassiroV

Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


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