Trendon T. Shavers is the name of the man recently charged by the US Securities and Exchange Commission (SEC) for allegedly running a Bitcoin-related Ponzi scheme.However, the Bitcoin world knows him better as the famous ‘pirateat40’. The founder and main operator of Bitcoin Savings and Trust (BTCST) offered and sold Bitcoin-denominated investments through the platform, collecting a true ... One of the most famous cases in the short history of Bitcoin has finally been decided in court. An American judge sentenced Trendon Shavers – best known as ‘pirateat40’ -, to pay a combined $40.7 million for running a Ponzi scheme.. Shavers was the owner of Bitcoin Savings and Trust, a company that sold investments using BTC and was investigated by the Securities and Exchange Commission ... Trendon Shavers, operating under the alias “pirateat40”, has been charged by US District Court for operating a Bitcoin-related Ponzi scheme, misappropriating approximately $4.5 million worth of Bitcoin.. Bitcoin Savings and Trust, along with Mr. Shavers have been accused of illegally appropriating roughly 146,000 of 764,000 Bitcoins (estimated at $4.5 million) his operation raised between ... In August of 2012, Bitcoin lost more than half of its value in just 3 days after Bitcoin Savings & Trust, a ponzi scheme that promised substantial weekly payouts to its investors, halted its promised payouts. The scheme’s operator, Trendon Shavers, claimed that more than 500,000 BTC in total was deposited into the scheme. In 2016, Shavers was sentenced to 18 months in prison. According to ... Hinter diesem Schema steht Trendon Shavers, der unter den Pseudonym Pirateat40 einen eigenen Bitcoin-Fonds aufsetzte. Bei Bitcointalk.org versprach Shavers den Anlegern im November 2011 eine wöchentliche Rendite von sieben Prozent. Bereits im August 2012 schloss Shavers den Fonds, da die Verwaltung zu komplex sei. However, in August, Bitcoin was waiting for another collapse. After Trendon Shavers (Priate @ 40) stopped paying BTC for the obligations of his “investment fund” Bitcoin Savings and Trust, the price of cryptocurrency fell sharply by $3 and amounted to less than $11 per BTC. April 2013: DDos attack. Although 2012 was a difficult year for cryptocurrency, the cost of BTC continued to grow ... The largest Ponzi scheme to date is also featured in the video. Bitcoin Savings and Trust, operated by Trendon Shavers, stole approximately 265,675 BTC from its customers. Another high-profile heist was the 2016 Bitfinex hack, which lost about 120,000 BTC. The video explains what happened there as well.
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