BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

Balaci’s testimony indicates that BitClub never ran the lucrative bitcoin mining pools it lured victim investors with. (Shutterstock)

A 35-year-old Romanian programmer of the Bitclub Network pleaded guilty on Thursday to his role in establishing the mining pool Ponzi scheme that defrauded investors of hundreds of millions of dollars in bitcoin.

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