TechFlow news, September 19 — According to Bitcoin.com News, the U.S. Federal Bureau of Investigation (FBI) has cracked down on a network that used fake cryptocurrencies for illegal gambling. Jonathan Arvay, a 38-year-old resident of Denver, Colorado, was found guilty by a federal jury of operating an illegal gambling business. Arvay used a fraudulent token called "Obsidian Digital Asset Coin" (ODAC) to disguise the exchange between gambling points and cash, requiring customers to pay fees to convert ODAC into U.S. dollars. This operation exposed a large-scale gambling scheme involving fraud and money laundering, with related gambling sites spread across multiple cities in Colorado, from Greeley to Pueblo. Acting U.S. Attorney Matt Kirsch for the District of Colorado described these venues as gambling dens disguised under a "veneer of legitimacy."
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