US Department of Justice gets approval to liquidate $56 million in cryptocurrency from BitConnect seizure - Technology News, Mobile Technology News, Videos, and Review | Techbrinks

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Thursday, 18 November 2021

US Department of Justice gets approval to liquidate $56 million in cryptocurrency from BitConnect seizure


Back in September, 44-year-old Glenn Arcaro of Los Angeles pleaded guilty to participating in a conspiracy to defraud BitConnect investors. Arcaro said he and others knowingly mislead investors about BitConnect’s supposedly proprietary technology, which they claimed could generate substantial profits and guaranteed returns.

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