A fraudulent bitcoin mining company may have ensnared several Utah properties, according to documents from a case against the BitClub Network, which is accused of defrauding over a thousand investors out of $722 million.
Recent research by Comparitech suggests $25 trillion has been lost to cryptocurrency and NFT rug pulls, which also includes Ponzi schemes and other scams.
A group of tax enforcement leaders from five countries, including the U.S., are collaborating on ways to investigate the use of nonfungible tokens and decentralized finance exchanges by tax criminals.
A Nevada man today admitted his role in laundering funds solicited for BitClub Network, a $722 million fraudulent cryptocurrency scheme, U.S. Attorney Philip R. Sellinger announced.