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Founder of Crypto Scheme My Big Coin to Serve Over 8 Years in Prison

Randall Crater – the Founder of the fraudulent cryptocurrency business “My Big Coin” – will spend 100 months in jail. 

Federal prosecutors previously insisted his punishment should have been 13 years.

U.S. District Judge Denise Casper in Boston ruled that Crater should stay in prison for more than eight years for running a cryptocurrency scam called “My Big Coin” between 2014 and 2017. The wrongdoer stole $7.5 million from investors during that period, luring them to invest in a suspicious digital asset backed by gold. 

He also lied that his project partnered with the financial services company Mastercard, while the dubious “My Big Coin” sounded similar to the largest cryptocurrency by market capitalization – bitcoin. 

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