Bitcoin nears record high ahead of futures ETF listing

The US Justice Division is selling $56 million worth of crypto seized in huge bitcoin financial investment fraud situation

Sufferers of the biggest break-in in the cryptocurrency globe may quickly get some revenge.

That’s because the United States Justice Department is offering $56 million well worth of cryptocurrency it seized as part of its situation against BitConnect, according to a Tuesday news release. The creator of BitConnect, a fraud cryptocurrency, and also its marketers defrauded countless people out of $2 billion worth of bitcoin in 2017.

The system is the biggest cryptocurrency fraudulence ever criminally charged, the Justice Department said in its statement. The proceeds from the sale will be utilized to help repay sufferers of the scam.

The crypto to be sold was confiscated from BitConnect’s top marketer, 44-year-old Glenn Arcaro, who pleaded guilty in federal criminal court for his duty in the case. Expert formerly reported that he and also BitConnect creator Satish Kumbhani told financiers the coin might get month-to-month returns as high as 40%.

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