NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Pirateat40 Pleads Guilty to $4.6M Bitcoin Ponzi Scheme Charge

NewsBTC
NewsBTC
4 years ago
2 mins read
MyCoin Ponzi Scheme, Taiwan Cops Net Two More. newsbtc bitcoin news.

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Texas man Trendon Shavers has finally admitted that he indeed was the brain behind Bitcoin Ponzi scheme named Bitcoin Savings and Trust (BTCST).

As per a report by the Wall Street Journal, the entire racket was so big that at a certain time it actually had 7 percent digital currency in circulation under its grasp.

This case had taken the Bitcoin community by the storm, but now, as per the plea agreement, Trendon will not face the second charge of wire fraud.

Trendon T. Shavers, whose online name was pirateat40, is now going to hear his sentence being read out on Feb. 3.

We had earlier reported that Trendon Shavers was ordered to pay $40 million dollar fine by U.S. Magistrate Judge Amos L. Mazzant for his founding the BTCST organization.

From a complaint filed by the SEC last year (as noted by Inside Bitcoins) which we had reported:

From at least September 2011 to September 2012, Shavers, operating under the Internet name “pirateat40,” offered and sold BTCST investments over the Internet, raising more than 700,000 BTC in principal investments from BTCST investors, or more than $4.6 million based on the daily average price of BTC when the BTCST investors purchased their BTCST investments.

Digital Currency market community has been facing the threat of Ponzi schemes of late. Earlier, MyCoin also put under investigation for running a Ponzi Bitcoin scam, and two of its organizers arrested in Taiwan.

According to Taipei’s Criminal Investigation Bureau, individuals Lu Kuan-wei and Chen Yun-fei were apprehended since they had also held a few events for MyCoin.

Earlier we had also reported that in Thailand, police have conducted a raid on a condominium building at Ratchadaphisek Road on allegations that an investment scheme was being conducted in the area.

This scam involved UToken, a so-called Bitcoin rival that UFun claimed was backed by a gold reserve system.

This was similar to the MyCoin scam, which had owners marketing themselves as a Bitcoin exchange company.

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Indecision Masks A Bullish Setup – Here’s Why BTC Holds The Key

CRYPTOWZRD, in his latest update on X, highlighted Ethereum‘s indecisive close, suggesting the market is still searching for clear direction....

Godspower Owie 3 hours ago
Bitcoin

Here’s What Will Happen If The Bitcoin Price Can Manage A Clean Break Above $108,500

A crypto analyst has forecasted a powerful Wave 3 Bitcoin price rally that could take it toward new all-time highs...

Scott Matherson 4 hours ago
gamestop-inspired-a-lingerie-mma-league-to-buy-bitcoin-subbd-token-soars

GameStop Inspired a Lingerie MMA League to Buy Bitcoin: SUBBD Token Soars?

Shaun Donelly knows a hot item when he sees one – and Bitcoin’s the hottest item of them all. The...

Aaron Walker 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

TRON Shows Adoption Strength As Volume Still Led By Big Transfers – Details

Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

Sebastian Villafuerte 11 minutes ago
Bitcoin

Bitcoin Price Risks Market Crash After Closing Below Final Weekly Resistance

Scott Matherson 1 hour ago
bitcoin

Bitcoin Network Volume Echoes Mid-2021 ‘Stable Equilibrium’ – Is A Big Move Brewing?

Ash Tiwari 2 hours ago

Premium Sponsors

Press Releases

  • Hledáte nejlepší kryptoměny k nákupu v roce 2025

    Hledáte nejlepší kryptoměny k nákupu v roce 2025? Tady...

    1 hour ago
  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    1 hour ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    2 hours ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    6 hours ago
  • 仮想通貨プレセール終了間近|上場価格で購入できる最後の7日間がスタート

    ...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.