MATCH THE FRAUD

A crypto exchange founder secretly funneled billions in customer deposits to his affiliated trading firm, which used the funds for venture investments, political donations, and personal expenses. When customers attempted to withdraw in November 2022, the exchange collapsed within days. At peak, the founder was considered one of the 40 wealthiest people in the world.

$1.8B raised

A social networking app claimed 20 million monthly active users — the figure investors relied on to justify a $1.17B valuation and $170M raise. An internal board investigation found that over 95% of purported users were bots or fake automated accounts. The company shut down immediately after the SEC launched an investigation.

$170M raised

A young entrepreneur sold tickets to a supposedly luxury music festival on a private Bahamian island, promising headline artists, gourmet dining, and villa accommodations at prices up to $250,000. Attendees arrived to find disaster-relief tents and cheese sandwiches. The founder had known for months the event was impossible to execute, yet continued selling tickets.

$26M raised

A mobile payments startup founder raised approximately $300M from investors, then secretly diverted tens of millions to personal use — purchasing art, luxury real estate, and a film production company — while lying to investors about the company's financial health and prospects.

$300M raised

A crypto lending platform offered retail customers high-yield interest accounts on crypto deposits without registering the product as a security, violating federal law. The platform also lent hundreds of millions in customer funds to a crypto hedge fund that subsequently collapsed. 600,000 customers were ultimately unable to withdraw their funds.

$450M raised