The U.S. Department of Justice has initiated a compensation program for victims of the cryptocurrency mining scam AirBit Club

According to Bits.media, the U.S. Department of Justice has announced the initiation of a compensation program for victims of the cryptocurrency mining scam AirBit Club. Founded in 2015, AirBit Club operated a financial pyramid scheme under the guise of cryptocurrency mining and virtual currency trading platforms. U.S. authorities have seized over $400 million in assets for compensation. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. Prosecutors stated that there are no fees for the compensation process.

The founder of AirBit Club was charged with money laundering and fraud by the Southern District of New York in August 2020, and the trial concluded in September 2023, with the court ordering the forfeiture of all fraud proceeds, including over 16,000 bitcoins.