• The man, the legend... Charles Ponzi (via Smithsonian/public domain).
    Bitcoin

    Three charged in BitClub Network’s alleged $722 million bitcoin Ponzi scheme

    Three men are accused of using the BitClub Network cryptocurrency mining pool to defraud investors, referring to them as ‘sheep’ and ‘idiots’

    A Ponzi scheme that stole $722 million from investors in a fraudulent cryptocurrency mining pool has been broken up by FBI and IRS agents, according a federal indictment. BitClub Network promised investors around the world shares in the earnings of a major non-existent bitcoin mining pool.

  • To avoid prison, do not tweet your illegal North Korean visa (via Twitter).
    Ethereum,  Politics

    DoJ: Ethereum expert helped North Korean sanction busting

    The Department of Justice arrested the Ethereum Foundation’s Virgil Griffith for allegedly teaching North Korea to use cryptocurrency to avoid economic sanctions

    Here’s a clue: if you’re going to teach North Korea how to use cryptocurrency to evade sanctions, don’t post your visa on Twitter. Particularly if the U.S. State Department has warned you not to go.

  • FBI Director Christopher Wray testifying before the U.S. Senate discussing Bitcoin on November 7, 2019 (screenshot via C-SPAN).
    United States

    FBI director passes on calling for cryptocurrency tracking law

    Christopher Wray avoided Mitt Romney’s question about tracking Bitcoin, turning instead to the need for messaging service ‘back doors’

    FBI Director Christopher Wray declined to swing at a gentle pitch over the plate for more regulation of cryptocurrency anonymity at a recent Senate Homeland Security hearing.

  • Russian spy Maria Butina (via Wiki commons)
    Innovators

    Patrick Byrne overstocks on Russian agent, resigns

    Overstock.com CEO bows out after placing himself at the center of a scandal involving a Russian agent and election interference

    Take one sultry Russian agent, a middle-aged tech CEO nearly twice her age, and add in the FBI, Hillary Clinton, allegations of election interference, and vague comments about the “deep state” and “Men in Black,” and you’ve got the makings of Netflix’s next hot series. Or, the reason the CEO of Overstock.com resigned on August 22 from the dot-com company he built into a major online retailer.