Former rugby player Shane Donovan Moore was sentenced to 2.5 years in US federal prison for orchestrating a $900,000 crypto mining Ponzi scheme that defrauded more than 40 investors. Operating under Quantum Donovan LLC from January 2021 to October 2022, Moore promoted the scheme by claiming investor funds would be utilized for purchasing cryptocurrency mining hardware, promising a daily return of 1%. Instead of investing in mining equipment, he funded a lavish lifestyle with the investors' money, including luxury apartments and electronics, while using new investor funds to pay returns to earlier investors. US District Judge Tana Lin noted the emotional and psychological damage inflicted upon the victims along with their financial losses. The case emphasizes a growing trend of scams leveraging cryptocurrency, underscoring the need for caution among investors in the rapidly evolving crypto space.

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