The Justice Department said the liquidation of the bitcoin and other cryptocurrency will reimburse victims from the BitConnect fraud.
Authorities said the scheme is believed to be the largest cryptocurrency fraud ever prosecuted.
The cryptocurrency being sold was seized from 20 digital wallets controlled by Arcaro, who pleaded guilty Sept. 1 to conspiracy and wire fraud related to the scheme to fraudulently market BitConnect's coin offering and digital currency exchange.
"In truth, BitConnect operated a textbook Ponzi scheme by paying earlier BitConnect investors with money from later investors," the Justice Department said in September.A federal judge last Friday authorized the Justice Department and the U.S. Attorney's Office for the Southern District of California to liquidate the cryptocurrency seized from Arcaro, who consented to the seizure.
The SEC in its lawsuit said that BitConnect was an unincorporated organization that registered four companies in the United Kingdom, all of which are now either defunct or dissolved.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bitcoin drops nearly 7% toward $60,000 as major cryptocurrencies plungeBitcoin and other cryptocurrencies including ethereum fell sharply on Tuesday retreating from near-record highs.
Leer más »
Shoppers Swear This Lash Serum Is the Closest Thing to Extensions — & We Have an Exclusive DiscountJust look at these before and afters! 😍
Leer más »
Everything We Know About the Immense, Messy Macklowe Art AuctionAt the tonight's auction of the Macklowe collection, the star lot could go for more than the couple's 14,000-square-foot Plaza apartment
Leer más »
Jewel thieves jailed for $35 million celebrity burglariesA gang of jewelery thieves have been jailed for a string of burglaries on the homes of celebrities, where they made away with £26 million ($34.9 million) worth of luxury stolen goods.
Leer más »
Elon Musk sells another $931 million of Tesla stockElon Musk sold another $931 million worth of stock, bringing his total sales of stock during the last six trading days to $7.8 billion.
Leer más »