Regulation● Neutral

New York asks court to make NovaTech crypto fraud operators repay $1.37B with interest

TradingGain Newsroom·5d ago·23 Oct 2026, 21:21 UTC

New York's attorney general wants a court to order the operators of the NovaTech crypto Ponzi scheme to repay $1.37 billion, plus interest. Two crypto frauds together took more than $1.1 billion from investors. For traders, the case is a reminder of fraud risk in crypto and the growing attention regulators are giving the sector.

BTCAt the time of writing, Bitcoin traded at $81,355 (-0.19% in 24h).Live price →

Why it matters

Two successive crypto frauds reportedly took more than $1.1 billion from investors.
New York is asking a court to make the operators pay the money back, with interest.
Ponzi-style schemes show why traders should research who runs a crypto platform before depositing funds.

What to watch next

Watch for the court's ruling on New York's $1.37 billion judgment request and any new regulatory action against crypto platforms.

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This brief is written by TradingGain from public reporting by Bitcoin Magazine.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.