US court orders firm and CEO to pay $2.5 million for bitcoin Ponzi scheme

What has happened?

A New York federal court has ordered a firm and its chief executive to pay over $2.5 million in what was the first anti-fraud action involving bitcoin ever brought by the Commodity Futures Trading Commission (CFTC). Between 2014 and January 2016, Gelfman Blueprint, Inc (GBI) and CEO Nicholas Gelfmann, from New York, operated a bitcoin Ponzi scheme, soliciting more than $600,000 from at least 80 customers.

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