Crypto Comeuppance

Plagued by scandal, the sector sees some justice

One of this biggest critiques of crypto is that it’s a playground for scammers.

This isn’t unfounded frustration. The tech is new, trading moves at lightening speed, and it’s hard to control (or even regulate) something that is borderless and global. There have been many who have taken advantage of these realities.

This week—some justice for victims.

Most notably, authorities in Montenegro arrested Do Kwon, the founded of Terra and Luna, a man whom many believe executed one of the biggest rug pulls (scams) in crypto history. Kwon is wanted on fraud charges in several countries.

Second, Jake Paul, Lindsay Lohan, and several others have been hit with charges by the SEC. The Securities and Exchange Commission says that, among other things, these folks did not disclose compensation they received for crypto coins they touted. That’s a big SEC no-no.

So—while the long arm of the law may awhile to reach its targets, and while the wheels of justice may turn slowly, they do turn.

Nonstop.

The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.