The Great Crypto Grift May Be Unwinding

Last week, federal prosecutors arrested a fifty-year-old Long Island man and accused him of defrauding hundreds of investors by offering them gains of five per cent per week—yes, per week—from a fictional crypto-trading platform. “Eddy Alexandre allegedly induced his clients to invest over $59 million with promises of huge passive income returns,” Damian Williams, the U.S. Attorney for the Southern District of New York, said, in announcing the indictment. “In reality, no such…

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