$6 Million Ponzi: CFTC Charges “Gold-Backed” Crypto My Big Coin With Fraud

My Big Coin is the cryptocurrency regulators warned you about. The Commodities Futures Trading Commission (CFTC) has filed charges against My Big Coin (MBC) and its founders for misappropriating more than $6 million from customers in a cryptocurrency-fueled Ponzi scheme. While the company gave the illusion it had inked a deal with Mastercard, not to mention promoting a gold-backed coin for its digital wallet, investors eventually grew suspicious only to have those concerns squashed by the company under the guise of more coins.