US court imposes approximately $25 million in fines and damages for My Big Coin fraud
2025/06/13 13:21
PANews reported on June 13 that according to Bitcoin.com, the U.S. Commodity Futures Trading Commission (CFTC) announced that the U.S. federal court made a final default judgment on the My Big Coin cryptocurrency fraud case, ruling that two individuals and two companies jointly bear $25 million in fines and compensation. The main culprit in the case, Randall Crater, had previously been sentenced to 100 months in prison.
The court found that the defendants falsely advertised that their cryptocurrency My Big Coin (MBC) had gold endorsement and liquidity between 2014 and 2017, defrauding 28 investors of more than $6 million. The CFTC said that due to the defendants' possible lack of solvency, it is uncertain how much funds the victims will eventually be able to recover.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights
You May Also Like
Glassnode Unveils Latest Altcoin Insights in Weekly Report
The post Glassnode Unveils Latest Altcoin Insights in Weekly Report appeared on BitcoinEthereumNews.com. Peter Zhang Sep 09, 2025 11:14 Glassnode’s latest report offers professional insights into altcoin markets, highlighting high-conviction setups and volatility analysis for informed trading decisions. Glassnode’s Weekly Altcoin Analysis Glassnode has published its latest edition of ‘The Altcoin Vector’, a weekly report that provides professional-grade insights into the altcoin market. This report, released on September 9, 2025, delves into the most volatile areas of the cryptocurrency landscape, offering high-conviction setups to assist traders in making informed decisions. Focus on Market Volatility The report emphasizes the inherent volatility in altcoin markets, a feature that offers both risks and opportunities for investors. By understanding these dynamics, traders can navigate the cryptocurrency frontier more effectively. Glassnode’s analysis aims to equip traders with the necessary tools to identify lucrative setups amidst the market’s unpredictable nature. Comprehensive Crypto Insights In addition to altcoin analysis, Glassnode’s publication also covers significant insights into Bitcoin, Ethereum, and the decentralized finance (DeFi) sector. By subscribing to their service, readers can access cutting-edge market analysis and novel on-chain research, enhancing their understanding of the broader cryptocurrency market. Subscription and Terms Glassnode offers a subscription service for those interested in receiving these insights directly. Subscribers must agree to the platform’s Terms & Conditions and Privacy Notice, ensuring a transparent and secure user experience. Related Developments As the cryptocurrency market continues to evolve, reports like Glassnode’s become invaluable for investors seeking to stay informed. Other recent analyses have highlighted the growing impact of regulatory developments on altcoin prices, as well as the increasing integration of blockchain technology in various industries. Overall, Glassnode’s ‘The Altcoin Vector’ serves as a critical resource for cryptocurrency enthusiasts and traders, providing deep insights into one of the market’s most dynamic sectors. For more detailed information, visit the Glassnode website.…
Share
BitcoinEthereumNews2025/09/10 03:47
Share
Cryptocurrency transactions in Belarus are at a record high
Crypto transactions are now “more active than ever,” and Belarusians are spending billions of U.S. dollars’ worth of cryptocurrency abroad, their president has admitted. Alexander Lukashenko made the remarks in front of his country’s leading bankers, mere days after urging officials to catch up with the industry in terms of adopting adequate rules. Lukashenko notes […]
Share
Cryptopolitan2025/09/10 04:05
Share
Dow Jones up 100 points as Fed takes focus away from Israel-Iran war
Middle East escalation is taking a back seat in the markets as traders await Fed's decision.
Share
Crypto.news2025/06/19 00:59
Share