Cryptocurrency Fraud Charges: What You Need to Know

Cryptocurrency like Bitcoin and ether has changed the nature of digital transactions. Although it may be argued that these virtual currencies have revolutionized the way money is exchanged and stored, they’ve also created new opportunities for criminals to defraud others and conduct illegal transactions.

Unfortunately, the earliest adopters of cryptocurrency were those who used it for money laundering and other dishonest purposes, which is why those accused of so-called ‘crypto fraud’ are often presumed guilty until proven innocent. Although this attitude belies the fairness that is supposed to underscore our criminal justice system, the publicity surrounding cryptocurrency fraud cases has made it prevalent.

If you are accused of cryptocurrency fraud, you deserve a criminal defense lawyer who isn’t deterred by popular opinion. That sums us up perfectly. Regardless of the charges you face, we believe that you have the right to a fair trial before an impartial jury. Our role is to tell your story and defend your rights.

Cryptocurrency Fraud

Generally speaking, cryptocurrency fraud is the act of using deception to illegally increase your cryptocurrency holdings. Depending on the facts of the case, the Department of Justice may prosecute cryptocurrency fraud cases by laying charges for grand larceny, money laundering, mail fraud, wire fraud, and related crimes.

The following are some examples of cryptocurrency fraud:

  • Cryptocurrency Theft: Cryptocurrency thieves seed the internet with fake support numbers. When a casual investor runs into a problem, they find a support number online and call it. Fraudulent support operators then request access to the victim’s digital wallet in order to temporarily transfer the currency within, but they never return it.
  • Bitcoin Money Laundering: Money launderers can often”mixers” to trade Bitcoin on unregulated exchanges. However, the FBI has become more sophisticated in its ability to trace Bitcoin transactions. Additionally, the European Union countries and international coalitions have increased their cooperation to stop money laundering through crypto.
  • Cryptocurrency Exit Scams: Thousands of altcoins have made initial coin offerings, and more are appearing every day. With cryptocurrency exit scams, a promoter will launch a new platform, collect money from investors, and disappear.As an example, in July 2019, the federal government charged a cryptocurrency promoter with stealing more than $7 million from investors.

Whether you are facing charges related to cryptocurrency, it is important to speak with an experienced federal criminal defense attorney as early as possible. Because the federal government has almost unlimited resources to investigate and prosecute crimes, don’t expect them to be lenient. You need and deserve a defense lawyer who’s equally diligent and up-to-date on cryptocurrency laws.

Timeless Defense Strategies for Modern Crimes

In cryptocurrency cases, it can feel like you have few options. While it may be true that these types of charges are serious, and can be difficult to defend, having an attorney who understands the system can inspire you to keep fighting for your future and your freedom.

At the Law Office of Kevin B. Ross, we have the legal knowledge and practical experience to present a compelling defense to cryptocurrency fraud charges. We have also represented clients during federal investigations and achieved favorable results in cases that have not even reached a grand jury. Contact us today at (214) 731-3151 or email us at to schedule a consultation and learn more about our legal services.

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Law Office of Kevin B. Ross, P.C.

Texas criminal defense attorneys Kevin B. Ross and Kristen Beckman bring a team approach to the Law Office of Kevin B. Ross, P.C., a Dallas criminal defense law firm that provides PROFESSIONAL, PERSONAL, and PROVEN representation to people in Texas who are accused of state and federal criminal offenses. We believe everyone deserves the strongest and most effective defense possible. The firm represents clients across Texas who are charged with crimes ranging from federal white-collar crimes to state drug charges, DWIs to murder, and everything in between.

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