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ezBtc and its owner are ordered to pay over $18 million for misusing customers' crypto assets.
The British Columbia Securities Commission has ordered cryptocurrency platform ezBtc and its owner, David Smillie, to pay over $18 million in sanctions for fraudulently diverting customers' assets to gambling sites and personal accounts.
EzBtc misled clients by falsely claiming their digital assets were stored offline for security, but one-third of the crypto assets deposited between 2016 and 2019 were misused.
Smillie faces an additional $8 million administrative penalty and is banned from British Columbia's investment market.
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A ezBtc y a su propietario se le ordena pagar más de $18 millones por el uso indebido de los activos criptográficos de los clientes.