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How much of the misappropriated funds will be recovered from the ezBtc fraud case by Dec 31, 2024?
3
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Less than $1 million • 25%
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Official announcements from the British Columbia Securities Commission (BCSC) or court documents
Story
Canadian Crypto Platform ezBtc and Founder David Smillie Accused of $9.5M Fraud for Gambling
Aug 13, 2024, 09:56 AM
The British Columbia Securities Commission (BCSC) has accused Canadian cryptocurrency platform ezBtc and its founder, David Smillie, of defrauding customers by misappropriating approximately $9.5 million USD (C$13 million) in cryptocurrency. The funds, which were intended for cold storage, were allegedly diverted for personal use and gambling. Over 935 Bitcoin (BTC) and 159 Ethereum (ETH) were reportedly funneled into Smillie's accounts and betting sites. The BCSC's findings highlight significant financial misconduct within the platform, raising concerns about the security and management of customer investments in the cryptocurrency sector.
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