Romanian programmer Silviu Balaci has pleaded guilty in creating the BitClub Network, a crypto mining scam that defrauded $722 million from investors.
Balaci was one of the key runner of the BitClub Network that defrauded $722 million from its investors in an elaborate crypto mining scam.
He was responsible for handling the company’s technical aspect, with fellow defendants Matthew Goettsche and Russ Albert Medlin attending to marketing and other business matters.
Silviu Balaci programmer pleaded guilty in the US court three weeks after the other BitClub co-founder, Russ Albert Medlin, was arrested. The Romanian programmer now faces five years in prison and a fine of $250,000.