Bitcoin.com News
Bitcoin.com News|Feb 17, 2025 04:32
A 24M crypto Ponzi scheme? Las Vegas businessman Brent C. Kovar is facing up to 330 years in prison after being indicted for allegedly running a massive scam through Profit Connect. He promised "AI-powered" crypto mining with 15%-30% fixed returns—backed by the FDIC (spoiler: it wasn’t). Over 400 investors fell for it. Instead of mining, Kovar allegedly used their money for luxury and to pay off old investors. Another crypto scam bites the dust… but will this stop the next one? Or is this just the tip of the iceberg?
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