David Vance

AI Crypto

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Omicron

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    <p>Two men have been <a rel="noopener noreferrer nofollow" title="accused" href="https://thebittimes.com/tag/accused.html">accused</a> of using the pseudonyms ‘<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Yoda’ and ‘Blue Wizard’ to steal $25 million in a medley of <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> <a rel="noopener noreferrer nofollow" title="Scam" href="https://thebittimes.com/tag/scam.html">Scam</a>s, including AI <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> bots and a fake recovery service.&nbsp;</p>
    <p>According to the Department of Justice (DoJ), 51-year-old Australian David Gilbert Saffron and 52-year-old Vincent Anthony Mazzotta Jr. from Los Angeles lured victims into various crypto scams that they claimed utilized an AI trading bot that could invest deposited funds in crypto and earn “high-yield profits.”</p>
    <p>However, the men allegedly spent investor funds on <strong>private jets, luxury vacations, and rented mansions</strong>. They’re also <a rel="noopener noreferrer nofollow" title="accused" href="https://thebittimes.com/tag/accused.html">accused</a> of splashing out on a personal chef, and security guards.&nbsp;</p>
    <p>Victims were allegedly told they had incurred losses and had to pay a fake entity called the ‘Federal Crypto Reserve’ to help investigate and recover their losses.&nbsp;</p>
    <h2 class="wp-block-heading" id="h-bitcoin-yoda-not-to-be-trusted-doj-claims">‘Bitcoin Yoda’ not to be trusted, DoJ claims</h2>
    <p>According to the indictment, Saffron attempted to hide his identity by using a number of aliases, such as ‘Blue Wizard,’ ‘<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Yoda,’ ‘David Gilbert,’ and ‘Dave Gabe.’</p>
    <p>In addition, the pair are accused of slowing down investigations by “concealing assets, concealing or destroying evidence, and falsifying records.” They also allegedly <strong>utilized crypto mixers and ‘blockchain hopping’ to obscure the origins of transactions</strong>.&nbsp;</p>
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       US surgeon sues Coinbase after hackers pay off debt, steal $350K
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    <p><em>Read more: Duped investors of Ontario ‘crypto king’ cause mansion sale reversal</em></p>
    <p>Some of the fraudulent crypto programs allegedly owned by the two include Circle Society, Bitcoin Wealth Management, Omicron Trust, Mind Capital, and Cloud9Capital.</p>
    <p>They are both charged with conspiracy to commit wire fraud, money laundering, obstruction of justice, wire fraud, and money laundering. If found guilty, <strong>the pair face over 20 years in prison</strong>.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-yoda-accused-of-using-ai-crypto-trading-bots-to-scam-25m-tbt73467.html">https://thebittimes.com/bitcoin-yoda-accused-of-using-ai-crypto-trading-bots-to-scam-25m-tbt73467.html</a></p>

‘Bitcoin Yoda’ accused of using AI crypto trading bots to scam $25M

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