The U.S. Commodity Futures Trading Commission (CFTC) has announced that a U.S. federal court has issued a final default judgment in the My Big Coin cryptocurrency fraud case, awarding two individuals and two companies a $25 million penalty and damages.
The main culprit in the case, Randall Crater, had previously been sentenced to 100 months in prison. The court found that the defendant had defrauded 28 investors of more than $6 million between 2014 and 2017 by falsely advertising that his cryptocurrency, My Big Coin (MBC), was gold-backed and liquid. The CFTC said it was uncertain how much money the victims would eventually recover due to the defendant's possible lack of solvency.
US Federal Court Imposes Approximately $25 million in Fines and Compensation in My Big Coin Fraud Case
2025-06-13 05:31:05
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