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The mysterious case of the $571m Manchester Bitcoin scam
US regulators are hunting for a Brit they claim is the mastermind behind a cryptocurrency fraud, but he may not even exist
14 April 2021 • 6:02pm
The US s commodities watchdog is on the hunt for a Manchester man it claims is the mastermind behind a Bitcoin scam that swindled thousands of victims and owes $572m (£416m).
The regulator is facing a major obstacle, however, as their suspect, Benjamin Reynolds, 38, appears to have vanished without a trace. Questions have now emerged over whether he ever existed.
The investigation comes as cryptocurrencies continue their surge into the mainstream. Coinbase, the cryptocurrency exchange, is set to go public in New York this evening at a valuation of as much as $100bn. The price of Bitcoin hit a record of $64,500 this week as corporate interest continued to pump up the price.