The U.S. Commodity Futures Trading Commission (CFTC) announced on February 10, 2025 that the U.S. District Court for the District of Massachusetts has issued a consent order against Randall Crater (founder of "My Big Coin") in Heathrow, Florida, requiring it to pay more than $7.60 million to victims of a cryptocurrency fraud scheme.
The order also prohibits Crater from trading in any CFTC-regulated market, conducting any transactions involving digital asset commodities, and registering with the CFTC.
According to the indictment, Randall Crater is facing charges related to a digital asset company called "My Big Coin Pay, Inc." From around 2014 to at least around 2017, Randall Crater and other individuals carried out a scheme to defraud investors by soliciting investors to invest in proprietary digital currencies.
"My Big Coin" founder fined $7.60 million for cryptocurrency fraud
2025-02-11 22:12:59
United States Commodity Period Commodity Exchange Commission ( cftc) 2025desk3cryptocurrencydesktopCrypto News
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