federal seizure

Bitcoin Bust: Feds Seize Montana Mining Farm in VBit Scandal

Bitcoin Bust: Feds Seize Montana Mining Farm in VBit Scandal

The new frontier of cryptocurrency mining mostly appears to be a gold rush, but there’s more than meets the eye that makes it a risky investment. More recently, the fallout from the VBit Technologies scandal has provided a sobering reminder. Federal authorities have seized a Montana mining farm allegedly tied...

Feds Seize VBit Technologies' Montana Bitcoin Mine Amid Ponzi Scheme Allegations

Feds Seize VBit Technologies' Montana Bitcoin Mine Amid Ponzi Scheme Allegations

The facility, the former enterprise of VBit Technologies, was recently seized by the U.S. government acting under a federal asset forfeiture statute. In their suit, they charge the firm’s complicity in the company’s own alleged Ponzi scheme that defrauded investors. The once-prized operation is now caught up in a contentious...