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.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- 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.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.