The government’s going after alleged crypto scammers as market crashes
Posted On July 1, 2022
The US government seems to be worked up about cryptocurrency scams. On Thursday, the Commodity Futures Trading Commission (CFTC), Federal Bureau of Investigation, and Department of Justice all released news that they were taking some form of action against people accused of carrying out multimillion or billion-dollar schemes. One of the cases involves knock-off apes, one is the “largest fraudulent scheme involving Bitcoin charged in any CFTC case,” and one involves someone nicknamed “the Cryptoqueen.” The wave of enforcement is happening against a backdrop of plummeting crypto prices.
Let’s start with the CFTC — the regulator has filed an action against a company called Mirror Trading International (MTI), which was run by a South African…