The US court has imposed a fine and compensation of approximately $25 million on the My Big Coin fraud case

According to Bitcoin.com, the US Commodity Futures Trading Commission (CFTC) announced that the US federal court has made a final default judgment on the My Big Coin cryptocurrency fraud case, ordering two individuals and two companies to jointly bear a $25 million fine and compensation. The main culprit Randall Crater had already been sentenced to 100 months in prison. The court found that the defendant falsely promoted the gold endorsement and liquidity of their cryptocurrency My Big Coin (MBC) between 2014 and 2017, defrauding 28 investors of over $6 million. The CFTC stated that it is uncertain how much funds the victims will ultimately recover due to the defendant's potential lack of solvency.