The British Columbia Securities Commission (BCSC) has found that cryptocurrency platform ezBtc and its founder David Smillie defrauded investors of approximately $9.5 million (C$13 million) in crypto assets.

- The BCSC investigation found that ezBtc and Smillie engaged in deceptive practices to misappropriate customer funds.

- Smillie used a significant portion of the funds for gambling and personal use.

- The platform ceased operations in September 2019.

The BCSC is requiring those involved in the case to submit proposals for sanctions by September 2024.