Glenn Arcaro
BitConnect's lead U.S. promoter ('national promoter'). He pleaded guilty in 2021 to conspiracy to commit wire fraud — admitting he earned at least $24M — and was sentenced in 2022 to 38 months in prison.
Also known as: Glenn Arcaro
Bio
Glenn Arcaro served as BitConnect's U.S. "national promoter" (2017–2018), managing a network of promoters and marketing its "Lending Program" and the purported "BitConnect Trading Bot"/"Volatility Software" as a guaranteed-return investment. The DOJ called BitConnect the largest cryptocurrency fraud ever charged criminally (~$2.4B). [1][2]
Legal outcome
Arcaro pleaded guilty to conspiracy to commit wire fraud in September 2021, admitting he earned at least $24 million from the scheme, and was sentenced on September 16, 2022 to 38 months in prison plus restitution/forfeiture. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Profit ConnectProjectsA Las Vegas company that the SEC said was a $12M+ Ponzi scheme: it told 277+ investors their money would be invested in securities and crypto via an 'artificial intelligence supercomputer' guaranteeing 20–30% annual returns. The SEC halted it in 2021; over 90% of funds came from investors.
- Dropil (DROP)Tokens
This page was last updated on Jun 8, 2026. View revision history.