U.S. DOJ Launches Victim Compensation for AirBit Club Scam, Over $400 Million in Assets Seized

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Release Time: 05/18/2026 00:16:50

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Summary

A crypto scam alert has been issued as the U.S. Department of Justice moves to compensate victims of the AirBit Club mining fraud, a pyramid scheme active since 2015. Over $400 million in assets, including 16,000 BTC, was seized following a trial in September 2023. The founders were charged in 2020 with fraud and money laundering by the Southern District of New York. Real-world assets (RWA) news highlights the DOJ’s ongoing efforts to recover and return funds to affected investors.

Odaily Planet Daily reports: The U.S. Department of Justice has announced the launch of a compensation program for victims of the crypto mining scam AirBit Club, with no fees charged during the compensation process.

It is reported that AirBit Club, established in 2015, operated a financial pyramid scheme under the guise of cryptocurrency mining and a virtual currency trading platform. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. The founders of AirBit Club were indicted by the U.S. Attorney’s Office for the Southern District of New York in August 2020 on charges of money laundering and fraud; the trial concluded in September 2023, and the court ordered the forfeiture of all illicit proceeds, including over 16,000 bitcoins. (bits.media)

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