A massive crypto Ponzi scheme has collapsed, leaving behind billions in losses and a trail of desperate investors.

SEC accuses Ramil Palafox of defrauding investors in PGI Global's $198 million Ponzi scheme, and has demanded civil penalties and restitution.

The former CEO of crypto investment firm Goliath Ventures has been arrested on federal charges of wire fraud and money laundering. Christopher Alexander Delgado, of Apopka, Florida, is accused of operating Goliath as a “Ponzi scheme” that raked in some $328 million from investors, one of whom lost some $720,000.

Two Estonian nationals plead guilty in a $577 million cryptocurrency Ponzi scheme. Sergei Potapenko and Ivan Turogin will face up to 20 years in prison for their crimes. Both Estonian nationals also admitted to running another fraudulent operation, Polybius.

Investors sued JPMorgan, claiming the bank ignored red flags and enabled a $328M Goliath Ventures crypto Ponzi scheme that allegedly impacted more than 2,000 victims.

Brazilian court hands Joel de Souza of Braiscompany 128 years for $190M crypto Ponzi, scamming 20,000 investors.

JPMorgan, in fact, aided and abetted a $328 million crypto Ponzi scheme that defrauded over 2,000 investors, the suit further claimed.

Crypto-related fraud reached $11.36B in 2025, up 22% year-on-year across 181,565 complaints. Rathnakishore Giri, a 31-year-old from New Albany, Ohio, was sentenced to nine years in federal prison plus three years of supervised release for running a $10 million cryptocurrency Ponzi scheme.

Learn how crypto theft, scams, rug pulls, and Ponzi losses are treated under IRS rules. Documentation, deductions, and reporting explained.

A co-founder of the cryptocurrency platform Forsage has been extradited from Thailand to the United States, where prosecutors accuse her of participating in an alleged US$340 million (AU$476 million) crypto Ponzi scheme. Ukrainian national Olena Oblamska appeared in federal court in Oregon after arriving in US custody earlier this month.