Trendon Shavers: Difference between revisions
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'''Trendon Shavers''' (known as '''Pirateat40''' or simply '''Pirate''') was the operator of the largest scam in bitcoin history: he operated a ponzi scheme<ref>https://bitcointalk.org/index.php?topic=50822.0</ref><ref>http://bitcoinmagazine.net/the-pirate-saga-and-so-it-ends/</ref> which initially promised a guaranteed a daily profit of 1%, and then disappeared with an unknown amount of bitcoins in August 2012. Thoughts were that the amount was about 500,000 bitcoins, valued around US $5 million at the time. These amounts were soon quashed once investigators realized a large hoard of coins found in their analysis did not belong to Pirate, but instead to a black market website with which Pirate used to mix his funds to hide the actual amounts he had held/stolen. | |||
== July 2013 == | == July 2013 == | ||
SEC (The U.S Securities and Exchange Commission) | SEC (The U.S Securities and Exchange Commission) charged Trendon Shavers with defrauding investors in a Ponzi scheme.<ref>https://bitcointalk.org/index.php?topic=261290.0</ref> | ||
== References == | == References == | ||
<references/> | |||
[[Category:Scammers]] | [[Category:Scammers]] | ||
[[Category:Criminals]] | |||
Latest revision as of 18:23, 29 July 2015
Trendon Shavers (known as Pirateat40 or simply Pirate) was the operator of the largest scam in bitcoin history: he operated a ponzi scheme[1][2] which initially promised a guaranteed a daily profit of 1%, and then disappeared with an unknown amount of bitcoins in August 2012. Thoughts were that the amount was about 500,000 bitcoins, valued around US $5 million at the time. These amounts were soon quashed once investigators realized a large hoard of coins found in their analysis did not belong to Pirate, but instead to a black market website with which Pirate used to mix his funds to hide the actual amounts he had held/stolen.
July 2013
SEC (The U.S Securities and Exchange Commission) charged Trendon Shavers with defrauding investors in a Ponzi scheme.[3]