ID:
bitclub-508
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Investment
Scams
Extended Method:
Ponzi scheme
Days in Operation:
42006
(115.08 Years)
100 pts each
According to the announcement issued by the Federal Prosecutor's Office of New Jersey, the programmer Silviu Catalin Balaci admitted to participating in the establishment of the cryptocurrency mining organization BitClub Network, engaging in telecommunications fraud and selling unregistered securities. Balaci confirmed that during the five-year period of implementation of the plan, BitClub defrauded investors of at least $722 million in Bitcoins.
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