Arbistar-Linked Wallets Moved Over $1.1B in Bitcoin After Collapse: Report
- —About 881 BTC was siphoned into external wallets right after the September 2020 collapse
- —Between January and March 2021, linked wallets handled over 20,000 BTC
- —Damages are estimated at $111 million to $220 million across up to 32,000 investors
- —Founder Santiago Fuentes was jailed for 16 years, his partner for 11 years
Why it matters: The case shows how Ponzi schemes move funds after collapse and adds pressure on crypto asset tracing in the EU.
Source: Bitcoin.com