Just published on The Daily Dot:
Trendon T. Shavers has been called the Bernie Madoff of Bitcoin. The U.S. Securities and Exchange Commision (SEC) charged him on Tuesday with defrauding investors in a Ponzi scheme worth 700,000 bitcoins, or more than $4.5 million, based on the average price of bitcoins in 2011 and 2012 when the investments were made. Today, that amount would be worth $66,910,000.