"My Big Coin" founder fined $7.6 million for cryptocurrency fraud
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Golden Finance reported that the U.S. Commodity Futures Trading Commission (CFTC) announced on February 10, 2025 that the Massachusetts District Court has issued a consent order against Randall Crater (founder of “My Big Coin”) of Heathrow, Florida. It is required to pay more than $7.6 million in compensation to victims of cryptocurrency fraud schemes.
The order also prohibits Crater from trading in any CFTC-regulated market, conducting any transactions involving digital asset commodities, and registering with the CFTC.
Randall Crater faces allegations about a digital asset company called "My Big Coin Pay, Inc." Randall Crater has committed a fraudulent investor with other individuals from around 2014 to at least 2017. The plan is to attract investors to invest in proprietary digital currency.