CFTC Fines Trader $1.1 Million for Bitcoin Theft

[kreslik.news]

Late last Friday, the Commodity Futures Trading Commission (CFTC) announced that it had issued a $1.1 million fine to Joseph Kim, a resident of Phoenix Arizona, for fraud involving Bitcoin and Litecoin.

According to information released back in June by Herskovits Law, Kim was working for Consolidated Trading, a trading company based in Chicago, when he first committed fraud.

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Moved to a cryptocurrency trading team, Kim took over $3 million in Bitcoin and Litecoin, from both Consolidated Trading’s accounts and the company’s clients, in order to make up for ... (read more)