Today's Hard|Forum Post
Today's Hard|Forum Post

Tuesday April 22, 2014

The "Strong Smell" Of Fraud From One Bitcoin Miner Maker

The black eyes just keep rolling in for the bitcoin industry.

Customer orders, totaling millions of dollars, were significantly delayed or never fulfilled. Through it all, the company insisted that mere manufacturing delays were to blame. However, suspicion never died down. In fact, it's getting worse after it came to light that Butterfly Labs' largest shareholderآ—a man who is a company co-founder, current "Innovation Officer," and member of the board of directorsآ—pled guilty in 2010 to one count of mail fraud (PDF) for his involvement in an international, multi-million dollar lottery scam.