# Crypto scams
A Crypto Business Owner Stole $6 Million In Cryptocurrency
The founder of My Big Coin bought antiques and jewels with his money. He's likely to go to jail for a long time for cheating. The founder of the cryptocurrency service and cryptocurrency of the same name My Big Coin turned out to be a scammer. Randall Crater was therefore charged with four counts of wire fraud (wire fraud, computer fraud, wire fraud) and money laundering (via The Register). For the 51-year-old, that could mean several decades in prison. He is scheduled to be sentenced by a US court on October 27.
Some Scammers Will Try to Lure You Into Executing Code by Promising Crypto Gains
With the giant steps cryptocurrencies took toward mass adoption in the last few years, more and more less tech savvy people are looking to jump on the crypto train. Unfortunately, because cryptocurrencies are still massively unregulated, they also provide a myriad of opportunities to scammers for profiting from people without fearing legal consequences.