Yes we see this comment rehashed on every crypto thread on HN, why? This article is about something specific.
>McDonnell and CDM engaged in a deceptive and fraudulent virtual currency scheme to induce customers to send money and virtual currencies to CDM, purportedly in exchange for real-time virtual currency trading advice and for virtual currency purchasing and trading on behalf of the customers under McDonnell’s direction
>In short, McDonnell and CDM used their fraudulent solicitations to obtain and then simply misappropriate customer funds
This raises some interesting questions: how do these schemes (which have been around much longer than cryptocurrency) differ when virtual currencies are involved instead of fiat?
>McDonnell and CDM engaged in a deceptive and fraudulent virtual currency scheme to induce customers to send money and virtual currencies to CDM, purportedly in exchange for real-time virtual currency trading advice and for virtual currency purchasing and trading on behalf of the customers under McDonnell’s direction
>In short, McDonnell and CDM used their fraudulent solicitations to obtain and then simply misappropriate customer funds
This raises some interesting questions: how do these schemes (which have been around much longer than cryptocurrency) differ when virtual currencies are involved instead of fiat?