CFTC Sues Goliath Ventures Over Alleged $397M Crypto Ponzi Scheme

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Goliath Ventures, alleging that it operated a $397 million crypto Ponzi scheme.

The complaint accuses Goliath Ventures of deceiving investors about the safety and profitability of its investment products, and of misappropriating millions of dollars in investor funds.

This is not the first time regulators have targeted a company accused of running a cryptocurrency-based scam. The CFTC has previously taken action against other firms operating similar schemes, including BitConnect, OneCoin, and QuadrigaCX.