800 victims of the $2 billion Bitconnect fraud case receive $17 million in compensation

ChainCatcher News: On January 12, the U.S. District Court for the Southern District of California ordered compensation for victims in the Bitconnect fraud case, allowing 800 victims from 40 countries to receive $17 million in restitution.

The cryptocurrency company BitConnect swindled over $2 billion globally, trapping more than 4,000 retail investors from nearly 100 countries. Recently, a U.S. federal court issued a ruling in a cryptocurrency fraud case. Glenn Arcaro, an executive of the cryptocurrency company BitConnect, was sentenced to 38 months in prison and ordered to forfeit a total of $80 million for participating in a large-scale fraudulent cryptocurrency investment scheme. (Source link)