A San Diego federal district court today ordered more than $17 million in restitution to approximately 800 BitConnect victims from more than 40 countries for their lost investments in the crypto Ponzi scheme BitConnect, the U.S. Department of Justice said in a statement. In September 2022, promoter Glenn Arcaro was sentenced to 38 months in prison. According to court documents, Glenn Arcaro conspired to cause losses to 4,145 investors in 95 countries by promising high returns on investments in cryptocurrencies. Glenn Arcaro claims he made at least $24 million through BitConnect, which will be returned to investors or seized by the government.