๐จBe alert! The US Commodity Futures Trading Commission (CFTC) targeted crypto exchange Mosaic Exchange Limited and its CEO, Sean Michael, for an alleged digital commodity asset fraud scheme. They allegedly defrauded at least 17 people in the US and other countries by taking hundreds of thousands of dollars in bitcoin or other funds to trade in customers' names, but instead misappropriated them.
This funny news reveals that Mosaic claims to have huge assets under management and a trading algorithm with 82% accuracy that generates huge profits. However, the CFTC revealed that the claims were false and Mosaic actually incurred losses while trading for customers.
CFTC Commissioner Kristin Johnson called the scheme a โhoaxโ and a โvirtual house of cardsโ that cost investors their hard-earned wealth. ๐
What do you think about this case? Have you ever had a bad experience with a crypto exchange? Tell me in the comments column! ๐
This funny news reveals that Mosaic claims to have huge assets under management and a trading algorithm with 82% accuracy that generates huge profits. However, the CFTC revealed that the claims were false and Mosaic actually incurred losses while trading for customers.
CFTC Commissioner Kristin Johnson called the scheme a โhoaxโ and a โvirtual house of cardsโ that cost investors their hard-earned wealth. ๐
What do you think about this case? Have you ever had a bad experience with a crypto exchange? Tell me in the comments column! ๐