In reality, early BitConnect investors were being paid with money collected from new investors while Arcaro earned $24 million in commissions and other payments.
As CNBC reports, the scheme defrauded investors of around $2 billion in Bitcoin over the course of a year beginning in January 2017.
On completion, further information may be requested in order to substantiate the claims and ultimately help victims get at least some of their money back.
Prior to joining the team, he spent 14 years writing and editing content on our sister site Geek.com and has covered most areas of technology, but is especially passionate about games tech.
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