U.S. Justice Department Initiates Compensation for AirBit Club Victims

The U.S. Department of Justice has announced the commencement of a compensation program for victims of the AirBit Club cryptocurrency mining scam. According to Odaily, the compensation process will not incur any fees. AirBit Club, established in 2015, operated as a financial pyramid scheme under the guise of a cryptocurrency mining and virtual currency trading platform. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. The founders of AirBit Club were charged with money laundering and fraud by the Southern District of New York prosecutors in August 2020. The trial concluded in September 2023, with the court ordering the forfeiture of all fraudulent proceeds, including over 16,000 bitcoins.