Cryptocurrency miner Malachi Salcido sued by investors

Malachi Salcido, a Washington man, is being sued by multiple investors who claim he falsely represented himself as an expert in cryptocurrency mining. Salcido allegedly owned a company called Step Change that aimed to mine new digital currencies.

Investors poured as much as $8.5 million into the company, but it went bankrupt soon after. People who invested in the company are now filing a class-action lawsuit against Salcido. Salcido is also accused of misappropriating or "improperly using" up to $2.4 million of the funds.