ChainBleedv0.1 · open intel
← back to feed·BITCOIRUG2017-09-10 · 8y ago
Incident · SLOWMIST

Control-Finance

Scam
Estimated loss
VERDICT —UNRATED
Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.
▰ METHOD
RUG
RUGBYTECODE CATCHABLEAI SCANNABLE
Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

On June 18,2019, the US Commodity Futures Trading Commission (CFTC) announced it had initiated a civil enforcement action against a now-defunct cryptocurrency trading and investment company for misappropriating $147 million worth of Bitcoin. The Complaint charges the defendants—Control-Finance Limited and its principal, Benjamin Reynolds—with exploiting public enthusiasm for crypto assets by fraudulently obtaining and misappropriating at least 22,858.822 Bitcoin from more than 1,000 customers through a classic (HYIP) Ponzi scheme called the Control-Finance Affiliate Program. Attack method (per SlowMist): Scam. Reported loss: 22,858.822 BTC.

Primary source
https://financefeeds.com/cftc-launches-action-uk-based-crypto-scheme-control-finance/
Sourced from
slowmist
Technical record
chain
bitcoin
protocol
Control-Finance
bug_class
rug
date_occurred
2017-09-10
loss_usd
source_id
sm:control-finance::2017-09-10
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