According to the report published by the Attorney’s Office of California, a citizen of San Diego, Jacob Burrell Campos, was found guilty for running an unauthorized Bitcoin exchange in the period from 2015 to 2016.
Over 1000 people became victims of the crypto scammer and lost their money. This is similar to the cryptocurrency trading apps like Bitcoin Revolution, who were being said to scam the users who invested in it.
The man confessed that he first launched a legitimate exchange platform, but it was soon closed, so he turned to illegal methods. Now Campos is facing the verdict of up to 5 years in prison. Moreover, he will have to pay over $800 thousand as a fine.
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