Former bitcoin and litecoin trader gets $1.1 million fine and 15 months for fraudulent crypto scheme

The Commodity Futures Trading Commission (CFTC) has issued an order and settled charges against a former trader accused of running a fraudulent bitcoin and litecoin scheme.

According to the CFTC press release, Joseph Kim, from Arizona, admitted to orchestrating a fraudulent bitcoin and litecoin scheme that led to more than $1 million in losses, of which he misappropriated more than $600,000.

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