US Department of Justice Launches Compensation Process for AirBit Club Victims, Over $400 Million in Assets Seized

Odaily Odaily Reports The U.S. Department of Justice has announced the launch of a compensation process for victims of the cryptocurrency mining scam AirBit Club, stating that no fees will be charged during the process.

According to reports, AirBit Club was established in 2015 and operated a financial pyramid scheme under the guise of cryptocurrency mining and virtual currency trading platforms. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. The founders of AirBit Club were indicted by the Southern District of New York in August 2020 on charges of money laundering and fraud. The trial concluded in September 2023, with the court ordering the forfeiture of all fraud proceeds, including over 16,000 bitcoins. (bits.media)