2,800 Investors Left Reeling After Crypto CEO's $9.4 Million Ponzi Scheme Falls Apart
- Travis Ford , CEO of Wolf Capital, was sentenced to 5 years for a $9.4M crypto Ponzi scheme defrauding 2,800 investors. - Funds were misused for luxury purchases and gambling , with victims including retirees and young professionals. - The DOJ highlighted the case amid a global crypto fraud surge, including a $6B Chinese scheme and $1.5B ByBit theft. - Prosecutors condemned Ford's "market pressures" defense, as 2025 saw over $2.17B in U.S. crypto scam losses.
Travis Ford, who served as CEO of Wolf Capital Crypto Trading LLC, has been handed a five-year sentence in federal prison by a U.S. court for masterminding a $9.4 million cryptocurrency Ponzi scheme that deceived close to 2,800 investors. The 36-year-old Glenpool, Oklahoma resident must also forfeit more than $1 million and pay $170,000 in restitution,
Between January and August 2023, Ford ran Wolf Capital, presenting it as a lucrative crypto investment opportunity. He
The DOJ highlighted that Ford’s conduct left many investors—including retirees and young professionals—in severe financial distress. "Ford failed to invest the majority of funds as he had pledged," the DOJ reported. "Instead, he used new investors’ money to pay earlier participants, following the typical Ponzi model." The USPIS led the investigation, having
This verdict comes amid a worldwide increase in crypto-related scams. Earlier this year, a Chinese national known as the "cryptoqueen" received an 11-year sentence for orchestrating a $6 billion
Ford’s conviction highlights the dangers of investing in unregulated cryptocurrencies. "
References:
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: CFTC's Broader Role in Crypto Regulation Ignites Discussion on Clearer Rules
- U.S. lawmakers propose expanding CFTC's crypto oversight via a bill reclassifying spot trading, diverging from SEC's enforcement approach. - Harvard University invests $443M in BlackRock's IBIT ETF, reflecting institutional confidence in crypto as a legitimate asset class. - DeFi projects like Mutuum Finance raise $18.7M in presales, leveraging regulatory momentum and transparent on-chain credit systems. - RockToken's infrastructure-backed crypto contracts attract long-term investors with structured yiel
DASH Aster DEX's Latest On-Chain Growth and What It Means for DeFi Liquidity
- DASH Aster DEX leads 2025 DeFi shift with hybrid AMM-CEX model and multi-chain support (BNB, Ethereum , Solana), boosting TVL to $1.399B and Q3 daily trading volumes of $27.7B. - Platform's 1,650% ASTER token price surge post-TGE attracted 330,000 new wallets, with 94% of BSC-USD volume ($2B/day) driving institutional adoption via Binance/YZi partnerships. - ASTER token mechanics enable 80% margin trading, 5-7% staking rewards, and governance rights, while annual 5-7% fee burns create scarcity and align
Astar 2.0: Leading a New Generation of DeFi and Cross-Chain Advancements
- Astar 2.0 introduces a zkEVM mainnet and cross-chain interoperability, slashing gas fees and enabling 150,000 TPS with 2025 scalability goals. - Strategic partnerships with Mazda, Japan Airlines, and Sony demonstrate blockchain's real-world applications in logistics, loyalty programs, and digital asset tokenization. - Q3 2025 data shows $2.38M DeFi TVL growth and 20% active wallet increase, alongside a $3.16M institutional ASTR token acquisition. - The platform aims to solidify its role as a foundational
Aster DEX Introduces New On-Ramp: Transforming Retail Participation in DeFi
- Aster DEX integrates institutional-grade custody and privacy tech (zero-knowledge proofs) to bridge retail-institutional DeFi gaps via BNB Chain partnerships. - TVL surged to $2.18B by late 2025 through yield-bearing stablecoins and hidden orders, attracting both retail and institutional liquidity. - Despite compliance gaps and wash trading concerns, Aster's Binance alignment and Coinbase listing signals growing institutional validation.
