Colorado Company Tied to Telegram’s $8.4B Crypto Scam—Elliptic Exposes the Scheme

Another day, another crypto scandal—this one wrapped in Telegram’s encrypted embrace. Blockchain sleuths at Elliptic just dropped the hammer on a Colorado-based firm allegedly fronting a massive $8.4B scam platform. Who needs regulators when you’ve got audacity and a messaging app?

The playbook? Classic pump-and-dump with a Web3 twist. Victims lured through Telegram channels, promises of ‘guaranteed returns,’ and—shockingly—vanished funds. But hey, at least the scammers accepted crypto. Faster settlements, right?

Elliptic’s report cuts through the noise, tracing wallet addresses straight back to the company’s doorstep. Pro tip for aspiring fraudsters: Maybe don’t cash out to a KYC’d exchange next time.

Yet here’s the kicker: While the SEC slaps wrists over unregistered securities, this crew allegedly bypassed every safeguard with a Telegram group and a token. Crypto’s wild west era? Far from over.