Control-Finance Scam
On June 18,2019, the US Commodity Futures Trading Commission (CFTC) announced it had initiated a civil enforcement action against a now-defunct cryptocurrency trading and investment company for misappropriating $147 million worth of Bitcoin.
- Reported loss
- 22,858.822 BTC
- Attack category
- Scam
Incident Overview
The Complaint charges the defendants—Control-Finance Limited and its principal, Benjamin Reynolds—with exploiting public enthusiasm for crypto assets by fraudulently obtaining and misappropriating at least 22,858.822 Bitcoin from more than 1,000 customers through a classic (HYIP) Ponzi scheme called the Control-Finance Affiliate Program.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.