1. BitConnect (2016-2018): BitConnect promised high returns through its lending program but was later exposed as a Ponzi scheme. The collapse resulted in billions of dollars in losses.
2. OneCoin (2014-2017): Marketed as a revolutionary cryptocurrency, OneCoin was a multi-billion dollar scam orchestrated by Ruja Ignatova, who disappeared in 2017. The project lacks a blockchain or any legal product.
3. MT. Gox (2011-2014): Once the largest Bitcoin exchange, MT. Gox filed for bankruptcy after losing 850,000 Bitcoin (worth about $450 million at the time) due to a combination of hacking and mismanagement.
4. PlusToken (2018-2019): A Ponzi scheme that attracted millions of users with the promise of high returns on their cryptocurrency investments. It defrauded investors of more than $2 billion before the operators were arrested.
5. QuadrigaCX (2013-2019): This Canadian exchange collapsed after the death of its CEO, Gerald Cotten, who allegedly took the private keys worth $190 million worth of cryptocurrency to his grave . Many people suspect foul play.
6. BitClub Network (2014-2019): A fraudulent mining pool operation defrauded investors of $722 million before the founders were arrested.
7. WoToken (2018-2020): A Chinese Ponzi scheme similar to PlusToken, WoToken defrauded investors of more than $1 billion before the operators were arrested.
8. Thodex (2021): Turkish exchange suddenly stopped trading and its CEO fled the country, allegedly taking away $2 billion worth of investment capital.
9. Africrypt (2021): Two brothers from South Africa allegedly stole $3.6 billion worth of Bitcoin from their investment platform and disappeared.
10. Mirror Trading International (2019-2020): A South African Bitcoin trading platform was discovered to be a Ponzi scheme, leading to losses of over $589 million when it collapsed.
