In the USA, a cryptocurrency fraud in Discord of $42 million has been uncovered.
The US Department of Justice has accused 26-year-old Canadian Nathan Gauvin of creating a fictitious fund called Gray Digital, through which he attracted over $42 million.
According to the investigation, he provided investors with fake reports, claimed a return of 4384%, and assured that he managed assets worth $1 billion, promoting himself in Discord as a 'successful trader'.
Instead of investing, the funds went to pay previous investors and for Gauvin's personal expenses. When the SEC began its investigation, he attempted to forge documents and simultaneously fraudulently obtained a $800,000 loan from two banks.
Gauvin was arrested in the United Kingdom on December 10. The prosecution described the scheme as a 'house of cards built on investors' money'.
