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BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

The Romanian programmer pleaded guilty to wire fraud and the offering and sale of unregistered securities.

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