The Penalty of the Man Who Stole 22.858.822 Bitcoin Has Been Announced!
The Penalty of the Man Who Stole 22.858.822 Bitcoin Has Been Announced! – The crypto money Ponzi structure, called Control Finance, is known for defrauding many people who entered the crypto money industry in 2017. The penalty of Benjamin Reynolds, who stole 22,859,822 Bitcoins from May 2017 until today and reached this fund by defrauding customers, has been announced.
According to the statement published by the Commodity and Futures Transactions Commission, one of the financial regulators of the USA, Reynolds, the founder of Control Finance, will pay $ 142.9 million to investors as compensation. Reynolds’s sentence is not limited to this, and in addition, the CFTC will be paid a fine of $ 429 million.
Founder of Bitcoin Ponzi Structure Defrauded More Than 1,000 People
Reynolds, with the crypto money Ponzi structure he established, defrauded many users thanks to FOMO in 2017 and bought their money with the claim that he would invest their money. As expected, Reynolds did not invest in these funds and used it for his personal expenses. Having reached more than 1,000 customers, Reynolds lost $ 147 million to his customers at that time.
In fact, the cryptocurrency industry is the scene of such scams and there is no way to prevent it. Although regulators cannot prevent this, crypto money investors can prevent this by getting more attention and training. There has also been significant progress recently about OneCoin executives, one of the largest Bitcoin Ponzi structures in history.
Although the amount of compensation to be paid by Reynolds coincided with the current investment amount, if the investors had used these funds by buying BTC themselves, they could reach a total amount of $ 251 million, which is twice their investment, even from $ 11,000.