TechFlame: On September 11, according to Decrypt, the US Texas court denied Nathan Fuller's bankruptcy petition. This person admitted operating a cryptocurrency Ponzi scheme through Privvy Investments LLC, involving more than $1.25 billion. The court found that Fuller had hidden assets, falsified records, and used investor funds for luxury goods, gambling trips, and the purchase

of nearly $1 million in real estate for his ex-wife.

The US Department of Justice emphasized that bankruptcy proceedings will not be a “safe haven” for crypto fraudsters. Although blockchain technology can track the flow of funds, legal experts say investors are likely to only recover part of their funds

, especially when assets have been misappropriated or transferred overseas.