$70M Cryptocurrency and Binary Options Fraud Schemes Online

Article By Taniya Gisel, Board Member / Writer at BLOCK WORK MEDIA GROUP 

A 48-year-old Serbian man, Kristijan Krstic, has been extradited to the United States to face charges in two federal indictments related to cryptocurrency and binary options scams.

Krstic was arrested in Batumi, Georgia on February 3 and extradited to the U.S. on October 30. The charges in the Northern District of Texas involve defrauding investors globally of over $70 million through fraudulent cryptocurrency and binary options investment platforms.

The schemes included more than 20 fraudulent platforms such as Start Options and Trinity Mining. The indictment includes charges of conspiracy to commit wire fraud and money laundering, with a maximum penalty of 20 years in prison for each count.

In the Eastern District of New York, Krstic is accused of leading a cryptocurrency scheme where he solicited U.S. investors using fraudulent online platforms.

The charges include conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering, with a maximum penalty of 20 years in prison.

The extradition of Krstic demonstrates international cooperation in combating cybercrime, particularly in the realm of cryptocurrency fraud.

It highlights the determination of law enforcement agencies to bring cybercriminals to justice regardless of borders.

This case serves as a warning to other cybercriminals that they will be held accountable for their actions and that international collaboration is a crucial tool in the fight against financial crimes in the digital space.


DATA SOURCE: Office of Public Affairs | Leader of $70M Cryptocurrency and Binary Options Fraud Schemes Extradited to the U.S. | United States Department of Justice