๐DeFi enthusiasts, buckle up! An Illinois judge just ruled two altcoins, Olympus (OHM) and KlimaDAO (KLIMA), as commodities in a crypto Ponzi scheme case. The scheme's mastermind, Sam Ikkurty, promised steady 15% returns from these "digital asset commodities".
๐ฑ Plot twist: instead of profits, Ikkurty ran a Ponzi scheme, causing a $20 million shortfall for investors. The court ordered him to pay over $120 million in restitution and disgorgement.
๐คWhat's your take on this? Are OHM and KLIMA legit commodities or just another part of a Ponzi scheme? Share your thoughts below! #DeFi #Web3 #CryptoNews
P.S. Remember, not all that glitters in the crypto world is gold. Or Bitcoin. Or Ether. Or...you get the point. ๐