Crypto Exchange Founder Accused of Gambling Away User Funds on Betting Sites, Losing $9,500,000

A securities regulator in Canada has charged the head of a crypto exchange with gambling users’ crypto. According to a new official decision from the British Columbia Securities Commission (BCSC), crypto exchange ezBtc founder David Smillie used CAD $13 million ($9.48 million) in customer funds for online gambling. “The respondents perpetrated a fraudulent scheme relating […] source: https://dailyhodl.com/2024/08/13/crypto-exchange-founder-accused-of-gambling-away-user-funds-on-betting-sites-losing-9500000/