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The U.S. Department of Justice initiates a compensation process for victims of the crypto mining scam AirBit Club
Mars Finance News, according to Bits.media, the U.S. Department of Justice announced the launch of a compensation program for victims of the crypto mining scam AirBit Club. AirBit Club was established in 2015 and operated a financial pyramid scheme under the guise of a crypto mining and virtual currency trading platform. U.S. authorities have confiscated over $400 million in assets for compensation. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. Prosecutors stated that the compensation process is free of charge. The founder of AirBit Club was charged with money laundering and fraud by the Southern District of New York in August 2020. The trial concluded in September 2023, and the court ordered the confiscation of all fraudulent proceeds, including over 16k bitcoins.