In 2012, Bitcoin declined from $15.25 to $7.50 within three days. The 51 percent decline in value was attributed to the fold of Bitcoin Savings & Trust, a Ponzi scheme. Trendon Shavers, the operator of the platform was sentenced to 18 months in prison. New York prosecutors also revealed that Shavers had obtained 146,000 Bitcoin through the scheme. Shavers was accused of falsely promising investors up to 7% weekly interest, based on BTCST’s purported bitcoin market arbitrage activity, including selling bitcoin to individuals who wished to ... The Trendon Shavers Scandal. Trendon Shavers was a resident of Prosper, Texas. He ran an online trading firm known as Bitcoin Savings and Trust. He raised 764,000 Bitcoins for this firm between 2011 and 2012. The value of these Bitcoins was $4.5 million. Shavers promised a 7% return on their investment. Sadly, he misappropriated the funds he had raised by using them to live luxuriously ... One of the most famous cases in the short history of Bitcoin has finally been decided in court. An American judge sentenced Trendon Shavers – best known as ‘pirateat40’ -, to pay a combined $40.7 million for running a Ponzi scheme.. Shavers was the owner of Bitcoin Savings and Trust, a company that sold investments using BTC and was investigated by the Securities and Exchange Commission ... Trendon Shavers, operating under the alias “pirateat40”, has been charged by US District Court for operating a Bitcoin-related Ponzi scheme, misappropriating approximately $4.5 million worth of Bitcoin.. Bitcoin Savings and Trust, along with Mr. Shavers have been accused of illegally appropriating roughly 146,000 of 764,000 Bitcoins (estimated at $4.5 million) his operation raised between ... The world's largest bitcoin and cryptocurrency exchange by volume, Binance, has said "de-listed" Bitcoin SV, striking it from the exchange as of April 22 as it no longer meets the high level of standard they expect. Elsewhere, the exchange ShapeShift said it will delist bitcoin SV too and another exchange, Kraken, is polling its users on whether to continue supporting the cryptocurrency. Good News – Bad News . Hype, informational background, advertising, opinions of authoritative people or companies – all that also affects the demand for Bitcoin, and therefore, its course. News about hacking of user funds or the bankruptcy of exchanges traditionally lead to depreciation. Positive comments about Bitcoin from the traditional financial sector, government regulators, or simply ... Trendon T. Shavers is the name of the man recently charged by the US Securities and Exchange Commission (SEC) for allegedly running a Bitcoin-related Ponzi scheme.However, the Bitcoin world knows him better as the famous ‘pirateat40’. The founder and main operator of Bitcoin Savings and Trust (BTCST) offered and sold Bitcoin-denominated investments through the platform, collecting a true ... Video: Life On Bitcoin Newlywed Couple Hits The Road: . Beccy and Austin Craig (@LifeOnBitcoin) have been filming their lives for the first three months of their marriage while they live on Bitcoin for a documentary. Provo Utah’s KSL5 TV news reporter Jed Boal interviews them.Excerpts: “The Craigs will test the principal of currency when they begin roadtripping across the county Saturday. The latest installment from Bitcoin.com’s new video series entitled “The 5 Biggest Bitcoin Heists in History – Ranked” examines the top bitcoin heists and a Ponzi scheme, and details how each one was executed. The heyday of cryptocurrency heists started in 2011, quickly peaked over the next two years, and has continued to this day. As described in the video, hackers were able to steal ...
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