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DoJ | Department Of Justice | My Big Coin

The United States Department of Justice (DoJ) is charging a New York-based operator for an allegedly holding a cryptocurrency payment services firm that wires a fraud and unlawful monetary transactions.

The allegations were announced by the DoJ in a press release on Feb. 27. As per the release, Randall Crater a New York citizen founded and managed My Big Coin Pay Inc. (My Big Coin). The purported cryptocurrency and virtual payment services company are headquartered in Las Vegas, Nevada.

Crater and his associates have allegedly developed a fraudulent cryptocurrency “My Big Coins” and marketed it to investors, from 2014 to 2017. The accused lured investors by claiming that the coin is fully functioning virtual currency pegged to valuable physical assets like gold, which could be exchanged for goods, cash, or other cryptocurrencies. The DoJ claims t...

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