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Philly man's bitcoin mining scheme allegedly defrauded investors of $48.5 million
The owner of a former bitcoin mining company in Philadelphia allegedly stole more than $48.5 million from investors in a scheme that promised "passive income" for supporters of the firm's cryptocurrency network, a complaint filed Wednesday by the U.S. Securities and Exchange Commission says. Danh C. Vo, 37, launched VBit Technologies Corp. in 2018 as a platform for investors to hold stakes in the company's computing power used to mine bitcoin. The cryptocurrency assets are created by networks of computer rigs that solve complex puzzles, allowing the entire bitcoin network to function securely while rewarding ... (full story)
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From financefeeds.com | Dec 18, 2025
The U.S. Securities and Exchange Commission has charged Danh C. Vo, founder and CEO of bitcoin mining company VBit, alleging that he misappropriated $48.5 million from investors and misled them about how the mining business worked. According to a complaint filed in the U.S. District Court for the District of Delaware, Vo and VBit Technologies Corp. raised ...
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Canadian national Jarett Dunn was sentenced to six years in prison by a London judge on Thursday, Wood Green Crown Court told Decrypt. He had previously pleaded guilty to fraud by abuse of position and transfer of criminal property. The former Pump.fun employee had already spent 308 days on tag, the Court said, 154 of which will count towards his sentence. ...
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