The encrypted currency attracted the ambitious, bold, and risks-those who want to bet on everything to get a chance of unimaginable wealth. But how much ambition is too much?
For some of the biggest names of industry, the search for dominance led them from luxury to legal problems, with their rapid rise, followed by a rapid fall. Their stories now stand as a warning tales of ambition. So, here is a look at the fall of three codes:
Sam Bankman Al -Muqali
Sam Benkman Farid, or SBF, was once considered the modern era Jp Morgan. At its peak, it was able to be He deserves 26.5 billion dollars and lived in Binthaus, with a value of $ 30 million. However, today, Bankman-PRIED finds himself spending his time in a low-security federal prison in San Pedro, California.
SBF was born on March 6, 1992. He graduated from the Massachusetts Institute of Technology (MIT) with the degree of physics and mathematics. In 2014, he joined Jane Street Capital, a quantum commercial company, focusing on trading in the pleading, especially in the boxes circulating on the stock exchange (ETFS). Three years later, he left the company dipping his toes on encryption.
Bitcoin began to buy and sell it for a profit in the Asian market. In September 2017, Alaameda Research founded, where he hired a small team.
In 2019, SBF Exchange Ftx Cryptocurrency launched, turning it into world power within two years. By 2021, FTX moved to the Bahamas, and was a billionaire Bankman-Fric.
“From 11:30 am on Thursday, it is the 25 richest people in America and the 64 richest people in the world, according to Forsa. Mark Zuckerberg, who reached $ 28.5 billion at the age of twenty -nine, was richer in this early age,” books On October 21, 2021.
The interface collapsed in November 2022 when FTX applied bankruptcy. An estimated $ 8.7 billion of customer boxes have been discovered.
It was revealed that FTX used customer deposits to finance risky beta through its sister company, Alaameda Research, which violates the basic principles of financial safety and transparency.
In December 2022, local authorities arrested King King Bancan in the shed of the Bahamas and handed him over to the United States. In January 2023, Bankman-PRIED entered an unparalleled appeal on the charges.
However, on March 28, 2024, he was sentenced to 25 years in prison on seven charges of fraud and conspiracy.
“Samuel Bantan Farid, also known as SBF, 32, from Stanford, California, was sentenced to 25 years in prison, and three years of supervision release, and he ordered to pay $ 11 billion in his confiscation to coordinate multiple fraudulent plans.” male.
Despite the condemnation, SBF hopes did not fade out. In 2025, the king, who was one day, began to resume President Trump for an amnesty. This was ridiculous, given that SBF was the second largest donor of the Democratic Party in the 2020 elections.
Pardon efforts have not yet resulted in anything. However, Business Insider revealed earlier this week that SBF can be released from prison in December 2044.
“Although BOP does not comment on the conditions of imprisonment specified in imprisonment, a Business Insider spokesman told the issue that the issuance dates are calculated by looking at” good behavior time “. Rehabilitation of people who spend the time of prison are qualified to earn 54 days per year of their punishment,” condition Read.
Aiden Blitersky
Eden Pletersky, 26, from Ontario, Canada, has gained a bad reputation as “King Crypto”. The high school encryption journey, and digital currency trading for video game privileges.
By 2020, Pleerski was deep. By 2021, it was promoted to millions of dollars in Perlington, Ontario. His parents also reduced 550 cars in a treasure and received luxury cars in return, indicating his early success.
“Mr. Pleerski gave his parents returning to their investments, as well as luxury gifts – McLaren 60lt and BMW M8 for his father, Louis Vuitton bag and a barbarian coat for his mother, and Bentley Bentayga for the year 2017 on the anniversary of the marriage of the couple,” BBC, “BBC” I mentioned.
Long live Pleterski loud and loud. Instagram planes, strange Getaways, and a garage are full of luxury cars. A teenage dream had turned into a millionaire – even it was not.
Between 2021 and 2022, Pleerski and his company, AP Private Equity Ltd. By raising 41.5 million Canadians (30.5 million dollars) of investors through high returns through cryptocurrencies and foreign investments.
The problems began in 2022 when the lawsuits were accused of the importance of money errors. The Ontario Supreme Court froze its assets in July and announced that his company was bankrupt by August.
Reports indicated that Pleerski has only invested about 1.6 % of the investor boxes. Meanwhile, it was claimed that he spent at least 16 million Canada on luxury cars, private aircraft travel, and lake’s palace.
Then came the horrific shift of events. In December 2022, it was said that he was kidnapped and detained on a ransom for several days. During this time, it was claimed that Pleerski was beaten and tortured. In addition, his kidnappers demanded 3 million CDA from the owner of the property.
CBC got a video From Pleerski, bruises and apologies appear. Pleerski’s father witnessed that his son had been released after he agreed to provide money quickly for his kidnappers and not to involve the police.
“It was transferred. They held it mainly for about three days, and they made it around different parts of southern Ontario, beat him, tortured him, and allowed him to make specific phone calls for certain people only. I was not one of these people who were allowed to call,” Pleesky’s father stated.
On May 14, 2024, Police Arrest Pleerski on charges of fraud. However, his parents spread on bail of 100,000 CDA and released.
“The Pleterski was charged with one of the fraud, more than $ 5,000, violating Article 380 (1) (a) of the criminal law, and one of the Canadian crime washing revenues that involve section 462.31 (1) (A) of the Criminal Code. Criminal Law,” Ontario Committee for Securities books.
The encryption king is now facing up to 14 years in prison if convicted.
Alex Machinsky
Alex Mashinsky was the pioneer of a serial pioneer of the foundations of Network Network in 2017. It was the borrowing and lending platform for digital assets. He planted a picture with “banks not your friends” shirts “and” Ashinsky anhow “over YouTube.
During the epidemic, Celsius gained popularity by offering loans and high interest rates on encryption deposits. Mashinsky Celsius description as a substitute for banks that benefit users.
“Personally I have more than $ 160 million of its origins on your vicinity directly. So if you have Bitcoin, I suffer from bitcoin next to you, and get the same amount of interest completely. I earn 6 percent, you earn 6 percent, so we do not deal with anyone differently differently.
By March 2021, Celsius exceeded $ 10 billion of digital assets. However, the rise was stopped in 2022. In April, Celsius announced that it would retain the operations of the non -accredited investors in the reservation, and stop the new deposits and rewards.
The situation deteriorated with the collapse of Terra Luna, which sparked a market -level sale and exacerbated liquidity problems in a march. In June, she stopped withdrawing customers and gave bankruptcy in July. Performing court open Celsius had a $ 1.2 billion hole in its public budget.
In September, Mashinsky stepped as an executive president. Moreover, financial affairs statement foot By CELSIUS showed that he withdrawn $ 10 million from the company in May 2022.
He faced a series of charges from the United States government, the Ministry of Justice (Doj), the American Securities and Stock Exchange Committee, and the futures contract for US commodity futures, as well as a lawsuit from the New York Prosecutor Litia James.
In July 2023, Machinsky was accused of seven charges of fraud, conspiracy, and the charge of manipulating and arrested the market. In December 2024, he admitted that he was guilty on two charges.
On May 8, 2025, he was sentenced to 12 years in prison. In addition, the court ordered Machinsky to confiscate $ 48.39 million.
“Alexander Machinsky targeted retail investors with promises that he would maintain their” digital assets “more secure than the bank, when he actually used these assets to put risky bets and to dedicate his own pockets. In the end, Machinski made tens of millions of dollars while his customers lost billions. Note.
Thus, this welded reveals the crystalline currency sword. With the tremendous fall, the encryption kings remind us that in the race for wealth, RUIN can come at the same speed.
The post when Moon turns into ruin: Rise and Fall of 3 Crypto Kings appeared first on Beincrypto.
