According to ChainCatcher, the U.S. Commodity Futures Trading Commission (CFTC) has successfully recovered $18 million worth of digital assets related to an alleged commodity pool Ponzi scheme.
Oregon man Sam Ikkurty is accused of defrauding investors through a so-called "cryptocurrency hedge fund" by promising to return "net profits" but failing to do so, and even concealing the fact that the fund's performance fell 98.99% in a few months.
The CFTC alleges that Ikkurty broke his promises to invest in volatile digital assets and that his alleged expertise in cryptocurrencies was false.
Judge Mary Rowland of the U.S. District Court for the Northern District of Illinois ordered Ikkurty and related entities to pay a total of $209 million, including customer restitution, disgorgement of ill-gotten gains, and civil penalties.