Asian Bitcoin Site Charged With Securities Fraud

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Asian Bitcoin Site Charged With Securities Fraud

A website out of southeast Asia was charged with securities fraud after 72 others like it were shut down earlier this month by Manhattan’s district attorney. and other companies registered to YouYou Finance were seized January 16 after an investigation that began in July.

As part of the investigation, an undercover agent e-mailed the site and was told he “could not lose money in the investment.” According to the email, “All [he] had to do, they said, was send them one bitcoin, and they’d send [him] three bitcoins in return, within 48 hours.” After sending the bitcoin to the operator’s bit-address, they kept it and never contacted him again.

The website currently has no information on it, and has been replaced by

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