Biggest Heist in crypto world : $56 million worth of crypto seized will be sold to compensate victims

  • In what’s called one of the biggest heist in the cryptocurrency world, the US Justice Department announced that it seized $56 million worth of cryptocurrency- as part of its case against BitConnect scam, according to a press release.
  • The crypto to be sold was seized from BitConnect’s top promoter, 44-year-old Glenn Arcaro, who pleaded guilty in federal criminal court for his role to defraud BitConnect investors in the United States and abroad, in which investors were fraudulently induced to invest over $2 billion.
  • Cyber researchers around the world have urged the crypto community to stay on high alert, as crypto scams become prevalent.
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