The New York Attorney General has demanded $1.37 billion from NovaTech founders Cynthia and Eddy Petion due to the alleged #crypto Ponzi scheme. Of this amount, $1.13 billion stems from the return of ill-gotten gains, and $232.5 million from interest. According to court documents, $1.16 billion in cryptocurrency was invested in NovaTech between 2019 and 2023. However, only $25.99 million was used for trading activities, while at least $134.5 million was transferred to the founders’ cryptocurrency wallets. Prosecutors allege that the company promised weekly returns of 2–4% and paid earlier investors using funds from new investors. It is reported that the founders fled the United States after a ruling was issued against them for failing to appear in court in August 2025. Four of the company’s partners have agreed to pay approximately $6 million and be permanently barred from operating in the industry.