From Luxury to Prison: My Big Coin Founder’s Downfall

The U.S. Commodity Futures Trading Commission has secured a federal court order banning Randall Crater, the founder of My Big Coin, and ordered him to repay $7.6 million. He falsely claimed that My Big Coin was a legitimate, gold-backed cryptocurrency with a MasterCard partnership, but instead, Crater spent the investors’ cash on luxury goods. This ruling is a win against crypto fraud, but how long before the next scam pops up?