Crypto Ponzi Echoes FTX Collapse

[nihalsari]

PGI shares eerie similarities with the FTX collapse:

Promised unrealistic crypto returns (PGI: daily Bitcoin 0.5–3%)

Misappropriated funds for personal spending

Used deceptive methods to maintain trust (PGI: fake portal; FTX: hidden liabilities)

Confirmed PGI losses exceeded $62.7M, and federal prosecutions continue to crack down on crypto fraud. Palafox got 20 years, SBF got 25 years—a warning to would-be scammers.

[lingriiddd]

palafox 20 years, sbf 25… crypto scammers learning hard way that doj doesn’t play

[JanEmil]

CZ is clean.