There are many in the crypto space who will have gotten presents in their stockings yesterday and many who will have received the obligatory coal. But of all the frauds, scammers, and criminals who sadly operate in the sector, who is the most deserving of the black stuff? Let’s find out.
Richard Heart
Heart, the founder of the HEX cryptocurrency, ended 2024 on Interpol’s ten most wanted persons list for fraud and violent crime. Heart was hit with a plethora of charges by the Securities and Exchange Commission (SEC) this time last year, since when he has been in hiding.
His bewitched supporters naturally cry conspiracy, but this doesn’t disguise the trouble that Heart will be in when he finally emerges.
Gary Gensler
The soon-to-be-former SEC chair began the year by relenting to mounting pressure to allow a Bitcoin ETF after years of delays, much to his chagrin. He allowed an Ethereum ETF a few months later, all the while facing a revolving door of SEC staff and both internal and complaints about the efficacy of the agency’s enforcement by prosecution approach.
Donald Trump had already threatened to get rid of Gensler should he regain the keys to the White House, and so it was no surprise that Gensler jumped before he was pushed; he will leave his role in the New Year, having utterly failed to crush the crypto space. Coal for sure, and lots of it.
Craig Wright
Satoshi Nakamoto-pretender Craig Wright lost his all-or-nothing case against the Cryptocurrency Open Patent Alliance in March, with the judge in the case finding that Wright had produced hundreds of forgeries before the case, lied and produced more forgeries during the trial, and got witnesses to lie for him.
Wright was hit with an injunction, which he duly breached by filing a trillion-dollar lawsuit against a bunch of Bitcoin developers and companies. The case was tossed and Wright was sentenced to one year in prison, suspended for two years, after he failed to turn up for the hearing.
Wright will appeal, but worse could be to come and he faces potential perjury and fraud charges resulting from his escapades. As a result, he will be getting more coal in his stocking than Santa could possibly carry.
