LAS VEGAS, Nev. (KOLO) - A Las Vegas business owner has been indicted after the DOJ says he was running a cryptocurrency Ponzi scheme.

A Las Vegas business owner made his first appearance in court Thursday for what investigators are calling a cryptocurrency fraud scheme that bilked hundreds of people out of close to $24 million. According to a U.

Brent C. Kovar, 58, the owner of a Las Vegas-based company, has been indicted on charges related to a $24 million cryptocurrency Ponzi scheme.Kovar made his in

Losses from cryptocurrency scams are on track to hit record levels in 2024 after scammers have increasingly used generative AI to trick victims. Cryptoc

Chainalysis, a blockchain analytics firm, has sounded the alarm over the spike in AI-powered crypto scams. Since 2021, AI scam services have grown by 1,900%, and in 2024, crypto wallets linked to scams received over $9 billion.

On-chain analytics platform Chainalysis has warned that cryptocurrency scams could surge over the coming year with the support of artificial intelligence. According to a February 13 report from Chainalysis,