{"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":"

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

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

U.S. District Court Judge Mary Rowland has 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