Imagine a cryptocurrency, like digital money, called CluCoin. Its creator, Austin Taylor, promised to use investor money for good causes. But he had a secret: a gambling addiction! He took the money and lost it all at online casinos.
- Taylor started CluCoin, raising money through an ICO (like a special sale for new digital money).
- CluCoin’s value went down, and Taylor used the investors' money to gamble.
- He was caught and sentenced to 27 months in prison and ordered to pay back $1.14 million.
| Fact | Number |
|---|---|
| Prison sentence | 27 months |
| Money to repay investors | $1.14 million |
| Number of investors | Hundreds |
