TechFlow News: The New York Attorney General has sued two companies and their promoters, accusing them of operating a cryptocurrency pyramid scheme that defrauded investors of over $1 billion.
One such company, AWS Mining, a virtual currency mining investment program, collapsed in April 2019 after promising guaranteed returns of 200%.
The cryptocurrency and foreign exchange trading platform NovaTech operated from August 2019 to April 2023. Investors deposited more than $1 billion worth of cryptocurrency into NovaTech, yet the platform reported only $26 million in actual trading volume.
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