The Mastermind Behind $722 Million Bitcoin Ponzi Scheme BitClub Arrested in Indonesia

According to BlockBeats, on June 16, local authorities in Jakarta arrested Russ Medlin, who is suspected of being the head of the $722 million Bitcoin Ponzi scheme BitClub.

According to Reuters, Jakarta police questioned three underage girls who left Medlin's apartment. After a brief interview, the girls admitted to being part of a child prostitution ring. Medlin has twice been convicted of felonies and has faced sex charges before. On the Nevada sex offender website, he is listed as a "non-compliant" second-degree offender and was convicted of child molestation in 2006 and 2008.

BitClub was shut down in December 2019 after its four founders were indicted. Medlin could be the fifth defendant in the case and could face extradition to the United States.

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