My Big Coin
A fraudulent virtual currency (MBC) marketed 2014–2017 as gold-backed and tradeable. Founder Randall Crater was convicted of wire fraud in 2022 and sentenced to over eight years; courts ordered ~$7.6M in restitution/forfeiture.
Also known as: My Big Coin, MBC, Randall Crater
Summary
My Big Coin (MBC) was marketed from about 2014 to 2017 as a functional, tradeable virtual currency "backed by gold". Prosecutors and the CFTC say those claims were false and that founder Randall Crater misappropriated investor funds for personal use. [1][2]
Outcome
Crater was convicted by a federal jury in July 2022 of wire fraud, unlawful monetary transactions, and operating an unlicensed money-transmitting business, and sentenced in 2023 to over eight years (100 months) in prison. A CFTC consent order and the criminal case set restitution/forfeiture at about $7.6 million; the CFTC found he obtained more than $7.6M from at least 28 customers. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
See also
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
Gala Games exploitTokensOn May 20, 2024 an attacker abused a privileged minter account on the GALA token contract to mint 5 billion GALA (≈$200M+ nominal) and dumped ~600M of them for ~$22M of ETH before Gala froze the address. Gala Games called it an internal access-control failure; the attacker later returned the ~$22M.
This page was last updated on Jun 15, 2026. View revision history.
