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Court Halts Bitcoin Pyramid Scheme

In a case brought by the Federal Trade Commission against individuals, who promoted Bitcoin Funing Team and My7Network, a federal court granted the FTC's motion to stop the promotion of deceptive money-making schemes involving cryptocurrencies. The FTC alleges that they falsely promised that participants could earn large returns by paying cryptocurrency to enroll in the schemes, when in fact the majority of participants would fail to recoup their initial investments. The scheme was based on getting others to purchase cryptocurrencies. Andersen Sleater Sianni represents victims of schemes that deraud. Click here to read more about the FTC case.


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