Forsage Co-Founder Pleads Not Guilty to $340 Million Crypto Ponzi Scheme After Extradition from Thailand

According to ChainCatcher, Forsage co-founder Olena Oblamska pleaded not guilty to wire fraud conspiracy charges after being extradited from Thailand to the U.S. The U.S. Department of Justice alleges the platform used smart contracts on Ethereum, TRON, and BNB Chain to redirect new investors’ funds to early participants. Blockchain analysis shows over 80% of Forsage investors received less cryptocurrency than deposited, and over 50% received no returns. The scheme defrauded victims across the U.S., Europe, Asia, and Latin America of approximately $340 million.