BitClub Scheme Busted in the US, Promising High Returns from Mining By Cryptovest

Three men were charged with running a large-scale Ponzi scheme, taking as much as $722 million in cryptocurrency. The BitClub network was promoted by Matthew Goettsche, 37, Jobadiah Sinclair Weeks, 38, and Joseph Frank Abel, 49, reported Bloomberg.

BitClub network ran a mining scam, promising to pool funds and buy (BTC) mining equipment. However, the company’s earnings were faked, to defraud even more investors of the potential earnings.

Mining has been a legitimate industry, u…

This article appeared first on Cryptovest

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