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Pair Busted in Alleged Cryptocurrency Extortion Scheme

Saturday, Sep 21 2019
News
Written by  FinTech News Brief Staff
Pair Busted in Alleged Cryptocurrency Extortion Scheme

U.S. authorities arrested Steven Nerayoff and Michael Hlady for allegedly threatening to destroy a cryptocurrency startup company if they weren’t given millions worth of the digital money. So reports Cointelegraph.

The pair, initially asked to assist in the startup’s coin offering, was charged with extortion and has already appeared in federal court. Authorities referred to the purported scheme as an “old-fashioned shakedown, to be paid off with 21st century cryptocurrency.”

Click here to read the full article from Cointelegraph.

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