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BTCC / BTCC Square / Global Cryptocurrency /
Crypto Ponzi Mastermind Sentenced to 8 Years for $40 Million Fraud

Crypto Ponzi Mastermind Sentenced to 8 Years for $40 Million Fraud

Author:
Global Cryptocurrency
Published:
2025-06-29 19:06:02
19
3
BTCCSquare news:

Dwayne Golden, the orchestrator of a $40 million cryptocurrency Ponzi scheme, has been sentenced to eight years in prison. The scheme, which operated under the guise of three fraudulent crypto investment firms, lured investors with promises of high returns. Instead, it functioned as a classic Ponzi structure—using new investor funds to pay off earlier participants.

Golden and his team actively concealed their activities as the scheme collapsed, destroying records and misleading federal investigators. The Department of Justice (DOJ) confirmed the sentencing on June 27, marking a significant enforcement action against crypto-related financial fraud.

|Square

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