My Big Coin Founder Gets 8-Year Jail Sentence for Fraud


Crater’s firm offered virtual payment services through a fraudulent digital currency known as “My Big Coins,” which were marketed to investors between 2014 and 2017, defrauding them of more than $6 million. He and his associates claimed the coins were a functioning cryptocurrency backed by $300 million in gold, oil and other assets. They also falsely told investors the company had a partnership with MasterCard and that My Big Coins could be easily exchanged for fiat currency or other virtual currencies, CoinDesk had reported.

Source link


Please enter your comment!
Please enter your name here