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The US Justice Department is selling $56 million worth of crypto seized in massive bitcoin investment fraud case
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Victims of the biggest heist in the cryptocurrency world may soon get some retribution.
That's because the US Justice Department is selling $56 million worth of cryptocurrency it seized as part of its case against BitConnect, according to a Tuesday press release. The founder of BitConnect, a scam cryptocurrency, and its promoters swindled thousands of people out of $2 billion worth of bitcoin in 2017.
The scheme is the largest cryptocurrency fraud ever criminally charged, the Justice Department said in its statement. The proceeds from the sale will be used to help pay back victims of the scam.
The crypto to be sold was seized from BitConnect's top promoter, 44-year-old Glenn Arcaro, who pleaded guilty in
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