How to Get Rich and then Go to Jail the Cryptocurrency Way

[FrgMstr]

Pump and dump comes to cryptocurrency! But given the fully unregulated environment, I am sure it comes as no surprise. However, the CFTC is surely taking note of illegalities going on in the marketplace. If you invested in My Big Coin (MBC), I would suggest you will not be getting much ROI on that. It has not been spelled out exactly how much of the invested $6M was spent on hookers and blow.


Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced the filing of a federal court enforcement action under seal on January 16, 2018, charging commodity fraud and misappropriation related to the ongoing solicitation of customers for a virtual currency known as My Big Coin (MBC). The CFTC Complaint charges Defendants Randall Crater of East Hampton, New York, Mark Gillespie of Hartland, Michigan, and My Big Coin Pay, Inc., a corporation based in Las Vegas, Nevada, with misappropriating over $6 million from customers by, among other things, transferring customer funds into personal bank accounts, and using those funds for personal expenses and the purchase of luxury goods.

 

[gamerk2]

I'm shocked I tell you, SHOCKED!

/sarcasm

 

[TwistedAegis]

"My Big Coin" was a fraud you say? Noooooo say it ain't so!

 

[pcgeekesq]

"Hookers and blow" is redundant. You probably meant "hookers and blo."
Cocaine addicts don't have time for no stinking "w."

 

[Sycraft]

Damn. That's pretty [H]ard.

I dunno man, cocaine can cause some, umm, "performance issues" downstairs. So it might have been more [L]imp .

 

[Galvin]

These coins always get manipulated, even if its not pump and dump. If a new coin gets listed. And it has tons of buyers. Large holders will keep the price down so they can accumulate. This kills the momentum. Then the coin pumps slowly maybe weeks or months later.

Not sure if this is how it works in the stock market, if someone owns enough shares, maybe they can create an ask wall to prevent price from rising?

 

[oROEchimaru]

there are constant reddit, 4chan etc pump n dump
a. excited posts
b. misinformed posts
c. horrible comments
d. discord groups for pump n dump schemes

i believe in crypto, but i support temporary decreases to get rid of:
a. anon trading
b. scams
c. fake ico schemes
d. non existent companies
e. using obscure islands to bypass 99% of the worlds laws
f. burning the environment up to mine stupid coins when there are 100x more efficient methods and alternative cryptos (btc will possibly die from this)

these all are great for temporary gains but not the soul of technology.

 

[heatlesssun]

I dunno man, cocaine can cause some, umm, "performance issues" downstairs. So it might have been more [L]imp .

That's why god created Viagra and Cialis.

 

[auntjemima]

I dunno man, cocaine can cause some, umm, "performance issues" downstairs. So it might have been more [L]imp .

Never had an issue.

 

[Spaceninja]

What else are you going to spend $6 mill on? Gotta burn it fast before you get caught.