Cyber-crime

After guilty pleas, prison terms, and seizures, the DOJ has opened the compensation process

The US Department of Justice has begun accepting applications from victims of the AirBit Club crypto Ponzi scheme for a slice of more than $400 million in forfeited assets tied to the fraud. The compensation fund currently lists about $150 million as available for payout.

Launched in 2015, AirBit Club’s schtick was that it ostensibly offered investors guaranteed daily passive income through cryptocurrency mining and trading.

It was pitched as a trustworthy multi-level marketing initiative, although prosecutors have since said it mainly preyed on “unsophisticated…