Three men charged in $722-million cryptocurrency fraud

Three men charged in $722-million cryptocurrency fraud – TechCentral

Three men have been charged by US prosecutors with helping run a US$722-million (R11.4-billion) cryptocurrency fraud that amounted to a “high-tech Ponzi scheme”. From 2014 until this month, the men operated BitClub Network, which solicited money from investors in exchange for shares in purported cryptocurrency mining pools and rewarded them for recruiting new investors, according to prosecutors.