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A crypto trader known as 'Coin Signals' pled guilty to swindling millions from investors by promising returns of nearly 150%
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Andriy Onufriyenko
Jeremy Spence, known online by «Coin Signals,» pled guilty to running Ponzi-like scheme that cost more than 170 cryptocurrency individual investors $5 million.
Spence, 25, made false representations about his historical trading performance, which he used to lure prospective investors into giving him money to trade. But while he was touting monthly gains as high as 148%, he was in fact losing money, according to the US Attorney's Office for the Southern District of New York.
«The burgeoning cryptocurrency market can be attractive to investors; however, investors should be aware of the inherent risks, including the risk of fraud,» US Attorney Damian Williams said of the case.
From November 2017 through April 2019, Spence
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