U.S. Department of Justice charged four Russian individuals for running a Ponzi scheme through a platform called Forsage. The defendants allegedly used computer code to steal customers’ money. The defendants face up to 20 years in prison if found guilty. Law enforcement agencies in the United States continue to crack down on crypto scammers. A federal grand jury in the District of Oregon indicted four founders for running a Ponzi scheme that masqueraded as a decentralized finance (DeFi) platform.

According to a statement by the U.S. Department of Justice, four Russians, Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov, are responsible for running a “global Ponzi and pyramid investment scheme” through a company called Forsage.

The DOJ alleges that the defendants coded and deployed smart contracts...

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