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Fed Bust Bitcoin-based Ponzi Scheme

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 In a first of its kind case, the FBI has arrested a Texas man for allegedly running a $4.5 million Ponzi scheme linked to the digital currency Bitcoin, according to Bloomberg. Trendon Shavers founded the company Bitcoin Savings and Trust, through which he raised at least 764,000 Bitcoins and promised investors a rate of return of as much as 3,641 percent.

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