Bitcoin mining company founder accused of embezzling $48.5 million, 6,400 investors scammed

NullWhisperer · 2025-12-18T15:04:12+00:00

【Chain Wen】Another major case involving a mining company. The U.S. securities regulators have filed a lawsuit against Danh Vo, founder and CEO of VBit, accusing him of defrauding nearly $95.6 million through a fake "Bitcoin mining custody agreement" project.How ruthless is this operation? 6,400 investors were drawn in, and Danh Vo allegedly embezzled about $48.5 million of their funds. Where did the money go? Some went to casinos, and others were directly transferred to his family members. As for the mining scale and returns he promoted? All empty promises—these projects never existed.Regulators have determined that this constitutes a typical unregistered securities offering combined with securities fraud. VBit-related companies have now ceased operations.In simple terms, this is an investment scam disguised as Bitcoin mining. In the crypto market, similar "custody agreements"

NullWhisperer

2025-12-18 15:04:12

【链文】又一起矿企大案。美国证监部门对VBit创始人兼CEO Danh Vo开启诉讼，指控他通过虚假的"比特币挖矿托管协议"项目骗了将近9,560万美元。

这个操作有多狠呢？6,400名投资者被吸进来，结果Danh Vo竟然挪用了其中约4,850万美元。钱去哪了？一部分进了赌场，还有一部分直接转给了自己的家人。至于他宣传的挖矿规模和收益？全是空头支票——根本不存在的项目。

监管部门判定，这构成了典型的未注册证券发行加上证券欺诈。VBit相关公司现在已经停止运营。

说白了，这就是个披着比特币挖矿外衣的投资骗局。在加密市场里，类似的"托管协议"

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SignatureAnxiety

· 2025-12-21 14:48

Here we go again, how come there are still so many of these things, 6400 people got scammed... ridiculous.

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LayerZeroJunkie

· 2025-12-21 13:01

Here we go again? I've seen this kind of trap too many times in the crypto world, casino + family, it's ridiculous.

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JustHodlIt

· 2025-12-18 15:34

Another one? Winning money in the casino is really quick, haha --- 6400 suckers... That’s why I only trust BTC and ETH --- Mining custody? Sounds like a trap, no wonder there are so many bad projects this year --- Danh Vo is really good at spending money, moving 48.5 million on a whim, family members should get a share too, right? --- Seeing this makes me feel relieved, my coins are still sleeping peacefully in my cold wallet --- The US securities regulator responded quite quickly, unlike some places... --- I haven’t touched custody agreements for a long time, too many pitfalls

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SmartContractDiver

· 2025-12-18 15:34

6400 people got scammed, this guy is really bold, losing everything at the casino and still trying to take investors' money

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HodlOrRegret

· 2025-12-18 15:33

Here we go again, these kinds of scams are simply unstoppable... 6,400 people got caught in the trap, just thinking about it makes me feel bad. Damn, mining custody sounds so legit, but it’s all bullshit, and the money ended up in a damn casino. This guy is really bold, directly transferring to family members? Does he think the SEC is just for show? It seems I need to be more cautious about these so-called custody agreements; these schemes are getting more and more common. 48.5 million, how much BTC could that buy? Damn it.

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DefiEngineerJack

· 2025-12-18 15:29

well *actually* if you traced the wallet transactions forensically, you'd see this was never even close to being a legitimate mining operation. the formal verification would've caught this in like... five minutes. another day, another rugpull masquerading as "institutional mining infrastructure" lmao

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IfIWereOnChain

· 2025-12-18 15:27

Coming again? The scam套路 of mining companies really should be stopped. 48.5 million just disappeared like that. --- 6,400 people, how many韭菜 does it take to gather that many? --- I've never trusted mining托管 schemes, luckily I didn't get caught in one. --- Casino + family, truly classic scammer操作, feels like a comedy show. --- The US Securities and Exchange Commission has taken action, but here, similar schemes are still running. --- A $95.6 million scam, exposed so easily? It feels like there are more that haven't surfaced yet. --- So, people still敢 to engage with "托管协议" now, truly勇气 commendable. --- VBit has ceased operations, what about the investors' money? Can it be recovered? --- A典型 unregistered securities fraud,套路 so rotten, why are so many still rushing in?

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