Bittrex.com after getting kickout of New York now faces a National Class Action for 3 Billion Dollars

— The Cryptocurrency Exchange Bittrex, may be Banned from the US and Europe if the Class Action Gains Enough Public Attention —

Investors with friends in high places have filed a 100MM action in New York Federal Court, and now is planning to file a National Class Action against Bittrex for three billion dollars. Over three thousand users have been contact, the Cryptocurrency exchange could go under while she is now talking to U.S. prosecutors for Bittrex, allegedly running a fraudulent Cryptocurrency investment scheme.

After the class action is announced, The New York District Attorney’s Office will then follow up to announce that the defendants, Bittrex, Inc., will be charged with no less than 10 counts of wire fraud, as well as conspiracy to commit wire fraud and money laundering.

From December 2017 to November 2018, Bittrex is said to have promoted the investment scheme to defraud shareholders.

Bittrex falsely claimed that cryptocurrency would be invested using “unique trading and secure methods” Bittrex also allegedly encouraged investors to transfer crypto to their own cryptocurrency wallets. Once transferred, Bittrex would block the accounts and prevent access to the funds for months at the time.

In over twelve months, the defendants stole a calculated 2 Billion dollars from three thousand victims, around the US, according to Laura Ventoso.

Largely due to their pseudonymous, online nature, cryptocurrencies are becoming increasingly popular as a means to scam investors. But law enforcement is catching up.

Last month, New York prosecutors charged a man in a nine-count indictment for duping investors out of over $200,000 in cryptocurrency and cash. And, in February, a 20-year-old man was indicted in the New York Supreme Court over SIM-swapping identity and crypto theft.

Warning cryptocurrency investors over such schemes, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission jointly issued an alert earlier this week, saying that claims such as “risk-free”, “absolutely safe” and “guaranteed profit” are hallmarks of a fraud.