Cryptocurrency scam in the news

• The U.S. Justice Department will sell off $56 million worth of cryptocurrency it seized as part of a massive Ponzi scheme case against a man who promoted the crypto lending program BitConnect.

• The BitConnect scam is alleged to have swindled thousands of people in the U.S. and abroad out of more than $2 billion worth of bitcoin.

• The Securities and Exchange Commission in September sued BitConnect, its founder Satish Kumbhani and Glenn Arcaro, who was the lead promoter of BitConnect in the United States.

#BitConnect #fraud #cryptocurrency #scam #Ponzi

https://www.cnbc.com/2021/11/16/us-selling-seized-cryptocurrency-in-bitconnect-fraud-case.html