{"id":136759,"date":"2024-09-05T10:30:24","date_gmt":"2024-09-05T07:30:24","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136759"},"modified":"2024-09-04T16:00:01","modified_gmt":"2024-09-04T13:00:01","slug":"cftc-recovers-18-million-from-crypto-pyramid-scheme","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/cftc-recovers-18-million-from-crypto-pyramid-scheme\/","title":{"rendered":"CFTC Recovers $18 Million from Crypto Pyramid Scheme"},"content":{"rendered":"<p>The scheme, run by Sam Ikkurty from Oregon, involved a fake \u201ccrypto hedge fund\u201d that deceived investors. Ikkurty promised substantial profits but his fund\u2019s value plummeted by nearly 99% within months\u2014a fact he kept hidden.<\/p>\n<p>The CFTC found that Ikkurty\u2019s investments in high-risk digital assets contradicted his claims of expertise, which he had exaggerated. His actual experience was limited to losing his personal Bitcoin in a hack.<\/p>\n<p>U.S. District Court Judge Mary Rowland has <strong><a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8959-24\">ruled<\/a><\/strong> that Ikkurty and his associates must pay $209 million, which includes around $84 million for restitution to victims, $37 million in restitution of illicit gains, and $110 million in civil penalties. Additionally, Ikkurty faces over $14 million in criminal contempt fines.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/here-is-what-to-know-about-the-trump-familys-new-crypto-project\/\" title=\"Here is What to Know About the Trump Family&#8217;s New Crypto Project\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/1800-5d0132b2b0061-240x170.\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Here is What to Know About the Trump Family&#8217;s New Crypto Project<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>CFTC Enforcement Director Ian McGinley criticized the scheme, noting that despite being marketed as advanced crypto investments, it was essentially a classic pyramid scheme.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) has managed to recover $18 million in cryptocurrency connected to a fraudulent commodity pool scheme.<\/p>\n","protected":false},"author":3,"featured_media":21768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,26],"tags":[],"class_list":["post-136759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - 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