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|−|[https://bitcointalk.org/index.php? action= profile;u=35827 Pirateat40] AKA Pirate AKA Trendon Shaver. |+|
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|−|Operator of the largest scam in bitcoin history - he operated a [https://bitcointalk.org/index.php?topic= 50822.0 ponzi scheme] which guaranteed a daily profit of 1%, and then disappeared with 500,000 bitcoins on August 2012 (estimated worth around $5,000,000 at the time). |+|
in a https://bitcointalk.org/index.php?topic=.0
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 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.
SEC (The U.S Securities and Exchange Commission) charged Trendon Shavers with defrauding investors in a Ponzi scheme.