Tuesday, March 21, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News Bitcoin

Crypto Pyramid Scam: DOJ Charges Mining Capital Coin CEO In $62M Fraud Scheme

by ethozedge
May 9, 2022
in Bitcoin
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter


The US Department of Justice charged Mining Capital Coin’s senior executive officer with conspiracy to commit a $62 million crypto investment scam.

According to the DOJ complaint, Luiz Capuci and unnamed co-conspirators deceived investors over the profit-generating potential of MCC mining packages and a native token called Capital Coin, which was backed by the “largest cryptocurrency mining operation.”

A complaint filed with the US Securities and Exchange Commission last month disclosed that Capuci has sold mining packages to at least 65,000 investors since January 2018.

The group offered daily returns of 1% for up to a year, a SEC press release said.

Suggested Reading | Wanted: Conti Hackers – US Dangles $15 Million For Info On Russian Cybercriminals

The Same Old Lies

The DOJ argues that instead of using investors’ monies to mine cryptocurrencies, as Capuci had promised, he moved the funds to his own cryptocurrency wallets.

The SEC complaint stated that MCC earned more than $8 million from the sale of mining packages and $3.2 million in initiation fees, which financed an expensive lifestyle that included luxury cars, a yacht, and real estate.

On Luxury Cars & Yachts

MCC possessed all the characteristics of a pyramid scheme. To attract investors, Capuci, 44, of Port St. Lucie, Florida, sought affiliates and promoters. In exchange, he promised the promoters extravagant presents such as Apple watches, iPads, and luxury vehicles.

In a press release, Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division stated:

“The department is committed to following the money — whether real or digital — to expose criminal schemes, hold these fraudsters accountable, and protect investors.”

Crypto total market cap at $1.52 trillion on the daily chart | Source: TradingView.com

‘Advanced Crypto Trading Bots’ To Dupe Investors

MCC, Capuci said, partnered with premier software experts in Asia, Russia, and the United States to “build an improved version of Trading Bots that was tested with never-before-used technology.”

On the same day that the DOJ indictment was revealed, the SEC presented fraud charges against MCC, co-founder Emerson Pires, Capuci, and two entities owned by Capuci, Bitchain Exchanges and CPTLCoin Corp.

The DOJ ccused Capuci with wire fraud conspiracy, securities fraud conspiracy, and international money laundering conspiracy.

Suggested Reading | Bitcoin Nosedives To $34K As Fear And Greed Index Registers ‘Extreme Fear’

45 Years Behind Bars

If convicted on all counts, he could face up to 45 years in prison. The Federal Bureau of Investigation’s Miami Field Office and Homeland Security Investigations are currently investigating the situation.

In recent years, a number of crypto leaders have been charged by authorities of operating Ponzi schemes.

The DOJ indicted Bitconnect creator Satishkumar Kurjibhai Kumbhani earlier this year for allegedly operating a $2 billion Ponzi scheme – the largest crypto pyramid scam in history.

Featured image Bitcoin Magazine, chart from TradingView.com



Source link

Tags: 62Mbitcoin newsCapitalCEOChargesCoinCryptocrypto analysiscrypto newsDOJEthoz EdgefraudLatest bitcoin newslatest crypto newsminingPyramidScamScheme
Share76Tweet47

Related Posts

Crypto Fear And Greed Index Surges To 16-Month High As Bitcoin Breaches $28,000

by ethozedge
March 21, 2023
0

The Crypto Fear and Greed Index, a measure of market sentiment towards cryptocurrencies, has surged to its highest level this...

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

by ethozedge
March 21, 2023
0

Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital...

As ZK Tech Booms in Crypto, Developers Must Consider User Safety

by ethozedge
March 20, 2023
0

The next major line of defense is proper code auditing. This can’t merely be internal auditing done by the developers...

Is Bitcoin Following An Explosive 1970s Gold Fractal?

by ethozedge
March 20, 2023
0

Bitcoin price could potentially be following a fractal from gold during the 1970s – the last time inflation in the...

The Federal Reserve Intervenes: Bank Term Funding Program

by ethozedge
March 20, 2023
0

The Federal Reserve balance sheet increased by $300 billion in one week, leading to debate about whether these actions qualify...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

Crypto Fear And Greed Index Surges To 16-Month High As Bitcoin Breaches $28,000

March 21, 2023

Shiba Inu Whale Moves 24 Trillion SHIB From Crypto Exchange To Cold Storage

March 21, 2023

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

March 21, 2023

Euler hacker offers to negotiate return of funds

March 20, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$27,741.00-2.12%
  • ethereumEthereum(ETH)$1,745.36-3.71%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.010.55%
  • binancecoinBNB(BNB)$331.18-1.86%
  • usd-coinUSD Coin(USDC)$1.010.34%
  • rippleXRP(XRP)$0.3891240.86%
  • cardanoCardano(ADA)$0.336043-2.77%
  • staked-etherLido Staked Ether(STETH)$1,744.36-3.15%
  • matic-networkPolygon(MATIC)$1.10-5.05%
  • dogecoinDogecoin(DOGE)$0.071849-4.54%
  • solanaSolana(SOL)$22.18-5.13%
  • binance-usdBinance USD(BUSD)$1.010.52%
  • polkadotPolkadot(DOT)$6.11-5.32%
  • shiba-inuShiba Inu(SHIB)$0.000010-4.05%
  • tronTRON(TRX)$0.066082-1.03%
  • litecoinLitecoin(LTC)$78.43-6.15%
  • avalanche-2Avalanche(AVAX)$16.64-5.90%
  • daiDai(DAI)$1.000.26%
  • uniswapUniswap(UNI)$6.16-5.34%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,760.00-2.15%
  • ToncoinToncoin(TON)$2.400.88%
  • chainlinkChainlink(LINK)$6.96-3.37%
  • cosmosCosmos Hub(ATOM)$11.50-5.87%
  • leo-tokenLEO Token(LEO)$3.380.59%
  • moneroMonero(XMR)$154.91-0.38%
  • ethereum-classicEthereum Classic(ETC)$19.64-7.61%
  • okbOKB(OKB)$45.47-5.32%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$128.37-5.45%
  • filecoinFilecoin(FIL)$5.76-7.52%
  • stellarStellar(XLM)$0.086838-1.71%
  • AptosAptos(APT)$11.93-7.99%
  • true-usdTrueUSD(TUSD)$1.010.35%
  • lido-daoLido DAO(LDO)$2.26-8.74%
  • quant-networkQuant(QNT)$125.65-5.68%
  • hedera-hashgraphHedera(HBAR)$0.060497-5.73%
  • crypto-com-chainCronos(CRO)$0.069743-6.52%
  • nearNEAR Protocol(NEAR)$1.97-7.16%
  • vechainVeChain(VET)$0.022529-8.12%
  • blockstackStacks(STX)$1.17-8.17%
  • internet-computerInternet Computer(ICP)$5.10-5.22%
  • algorandAlgorand(ALGO)$0.209154-5.66%
  • apecoinApeCoin(APE)$4.02-5.66%
  • the-graphThe Graph(GRT)$0.146356-7.28%
  • eosEOS(EOS)$1.15-1.75%
  • fantomFantom(FTM)$0.453445-11.14%
  • the-sandboxThe Sandbox(SAND)$0.65-6.90%
  • immutable-xImmutableX(IMX)$1.26-13.72%
  • flowFlow(FLOW)$1.05-3.30%
  • elrond-erd-2MultiversX(EGLD)$43.13-3.06%
  • decentralandDecentraland(MANA)$0.60-6.79%
  • aaveAave(AAVE)$75.73-4.85%
  • tezosTezos(XTZ)$1.16-7.32%
  • fraxFrax(FRAX)$1.000.06%
  • theta-tokenTheta Network(THETA)$1.00-6.47%
  • axie-infinityAxie Infinity(AXS)$8.44-8.03%
  • havvenSynthetix Network(SNX)$2.88-2.67%
  • kucoin-sharesKuCoin(KCS)$9.29-1.21%
  • neoNEO(NEO)$12.17-6.74%
  • conflux-tokenConflux(CFX)$0.397797-12.99%
  • rocket-poolRocket Pool(RPL)$40.20-6.31%
  • optimismOptimism(OP)$2.46-9.15%
  • BitDAOBitDAO(BIT)$0.53-2.44%
  • paxos-standardPax Dollar(USDP)$1.010.13%
  • gatechain-tokenGate(GT)$5.38-2.04%
  • terra-lunaTerra Luna Classic(LUNC)$0.000125-5.15%
  • curve-dao-tokenCurve DAO(CRV)$0.96-5.08%
  • usddUSDD(USDD)$1.000.30%
  • klay-tokenKlaytn(KLAY)$0.227896-3.47%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.80-1.80%
  • bitcoin-cash-svBitcoin SV(BSV)$35.84-3.49%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.77-5.31%
  • mina-protocolMina Protocol(MINA)$0.79-8.01%
  • gmxGMX(GMX)$77.85-5.39%
  • huobi-tokenHuobi(HT)$4.031.45%
  • sapphireSapphire(SAPP)$0.7035.32%
  • chilizChiliz(CHZ)$0.117847-3.70%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • dashDash(DASH)$55.03-4.18%
  • ecasheCash(XEC)$0.000031-5.03%
  • makerMaker(MKR)$662.13-5.40%
  • frax-shareFrax Share(FXS)$7.92-6.36%
  • xdce-crowd-saleXDC Network(XDC)$0.04260221.09%
  • iotaIOTA(MIOTA)$0.211565-4.48%
  • bittorrentBitTorrent(BTT)$0.000001-7.17%
  • singularitynetSingularityNET(AGIX)$0.456490-10.61%
  • EdgecoinEdgecoin(EDGT)$1.010.34%
  • Bitget TokenBitget Token(BGB)$0.375691-1.99%
  • compound-ethercETH(CETH)$35.02-3.13%
  • pax-goldPAX Gold(PAXG)$1,991.49-0.91%
  • Tokenize XchangeTokenize Xchange(TKX)$6.28-1.95%
  • trust-wallet-tokenTrust Wallet(TWT)$1.19-5.76%
  • tether-goldTether Gold(XAUT)$1,977.94-1.26%
  • render-tokenRender(RNDR)$1.30-11.32%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • zilliqaZilliqa(ZIL)$0.027451-6.36%
  • osmosisOsmosis(OSMO)$0.81-4.62%
  • compound-usd-coincUSDC(CUSDC)$0.0228910.18%
  • 1inch1inch(1INCH)$0.51-6.57%
  • radixRadix(XRD)$0.042041-1.80%
  • arweaveArweave(AR)$8.49-7.53%
  • loopringLoopring(LRC)$0.338397-8.92%
  • thorchainTHORChain(RUNE)$1.39-5.01%
  • mask-networkMask Network(MASK)$5.48-10.13%
  • oec-tokenOKC Token(OKT)$23.26-5.85%
  • kavaKava(KAVA)$0.91-6.71%
  • fetch-aiFetch.ai(FET)$0.391156-7.15%
  • convex-financeConvex Finance(CVX)$5.38-5.86%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,868.76-3.37%
  • gemini-dollarGemini Dollar(GUSD)$1.01-0.43%
  • enjincoinEnjin Coin(ENJ)$0.392840-8.33%
  • DeFiChainDeFiChain(DFI)$0.58-2.72%
  • MagicMagic(MAGIC)$1.830.52%
  • casper-networkCasper Network(CSPR)$0.036025-4.25%
  • FlareFlare(FLR)$0.0327657.17%
  • btse-tokenBTSE Token(BTSE)$2.34-1.97%
  • FLOKIFLOKI(FLOKI)$0.000039-4.69%
  • nexoNEXO(NEXO)$0.684.27%
  • dydxdYdX(DYDX)$2.48-9.54%
  • cdaicDAI(CDAI)$0.0222390.00%
  • zcashZcash(ZEC)$33.84-8.18%
  • WEMIXWEMIX(WEMIX)$1.51-1.16%
  • DogechainDogechain(DC)$0.001787-24.98%
  • EthereumPoWEthereumPoW(ETHW)$3.30-4.33%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.000000-2.46%
  • basic-attention-tokenBasic Attention(BAT)$0.237038-7.23%
  • ethereum-name-serviceEthereum Name Service(ENS)$13.55-6.15%
  • nemNEM(XEM)$0.038066-8.02%
  • Nexus MutualNexus Mutual(NXM)$50.10-3.25%
  • qtumQtum(QTUM)$3.17-8.17%
  • woo-networkWOO Network(WOO)$0.197855-9.33%
  • terra-luna-2Terra(LUNA)$1.39-4.99%
  • theta-fuelTheta Fuel(TFUEL)$0.052855-7.23%
  • injective-protocolInjective(INJ)$3.97-7.29%
  • holotokenHolo(HOT)$0.001785-6.43%
  • galaGALA(GALA)$0.041659-11.80%
  • Gains FarmGains Farm(GFARM2)$8,752.72-4.04%
  • ravencoinRavencoin(RVN)$0.025910-7.55%
  • kusamaKusama(KSM)$33.85-8.06%
  • celoCelo(CELO)$0.62-8.17%
  • Aleph ZeroAleph Zero(AZERO)$1.38-4.17%
  • compound-governance-tokenCompound(COMP)$43.47-6.37%
  • KaspaKaspa(KAS)$0.0167665.01%
  • oasis-networkOasis Network(ROSE)$0.057912-7.84%
  • decredDecred(DCR)$19.66-5.34%
  • Access ProtocolAccess Protocol(ACS)$0.009638-4.90%
  • BeldexBeldex(BDX)$0.054732-0.40%
  • olympusOlympus(OHM)$10.25-1.36%
  • gnosisGnosis(GNO)$109.52-2.49%
  • AstarAstar(ASTR)$0.065101-7.27%
  • bitcoin-goldBitcoin Gold(BTG)$16.18-5.83%
  • audiusAudius(AUDIO)$0.282471-7.67%
  • yearn-financeyearn.finance(YFI)$8,496.26-3.79%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.000000-2.09%
  • nucypherNuCypher(NU)$0.21238118.51%
  • linkLINK(LN)$41.01-0.35%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.20-1.36%
  • ankrAnkr Network(ANKR)$0.033328-7.57%
  • omisegoOMG Network(OMG)$1.90-10.74%
  • liquity-usdLiquity USD(LUSD)$1.020.11%
  • balancerBalancer(BAL)$6.52-3.61%
  • chiaChia(XCH)$37.55-3.19%
  • bloxBlox(CDT)$0.37850538.29%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • stepnSTEPN(GMT)$0.400797-9.10%
  • SSV NetworkSSV Network(SSV)$35.51-8.00%
  • huobi-btcHuobi BTC(HBTC)$28,008.00-1.62%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • AstraferAstrafer(ASTRAFER)$1.59-4.70%
  • harmonyHarmony(ONE)$0.020206-8.44%
  • Gains NetworkGains Network(GNS)$8.11-5.45%
  • convex-crvConvex CRV(CVXCRV)$0.85-5.18%
  • golemGolem(GLM)$0.241714-6.93%
  • justJUST(JST)$0.026523-4.96%
  • DAO MakerDAO Maker(DAO)$1.57-8.95%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • moonbeamMoonbeam(GLMR)$0.387488-6.74%
  • iotexIoTeX(IOTX)$0.024499-6.76%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • BlurBlur(BLUR)$0.56-2.88%
  • ecomiECOMI(OMI)$0.000850-1.98%
  • escoin-tokenEscoin(ELG)$2.850.30%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • kadenaKadena(KDA)$1.00-5.99%
  • jasmycoinJasmyCoin(JASMY)$0.004677-6.41%
  • tether-eurtEuro Tether(EURT)$1.081.10%
  • sushiSushi(SUSHI)$1.15-7.00%
  • amp-tokenAmp(AMP)$0.003937-5.85%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • LiquityLiquity(LQTY)$2.412.36%
  • wavesWaves(WAVES)$2.19-6.46%
  • terrausdTerraClassicUSD(USTC)$0.022014-3.23%
  • Frax EtherFrax Ether(FRXETH)$1,746.82-3.42%
  • band-protocolBand Protocol(BAND)$1.70-7.23%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • siacoinSiacoin(SC)$0.003964-6.99%