US CFTC wins default victory in litigation involving cryptocurrency scams

The US Commodity Futures Trading Commission (CFTC) is about to get a default victory in a series of actions involving binary options and cryptocurrency scam entities. On May 31, CFTC submitted a default certificate in the Eastern District of New York, seeking relief against defendants Blake Harrison Kantor, Nathan Mullins, Blue Bit Banc, Blue Bit Analytics, Ltd., G.Thomas Client Services and Mercury Cove, Inc. The default order of the defendant Blue Wolf Sales Consultants. On April 16, 2018, the CFTC filed a lawsuit against the defendant, alleging that it violated the Commodity Exchange Act and the Commission Regulations, but the defendants failed to respond within the prescribed time limit. The CFTC said that at least from April 2014 to the present, the defendant used e-mail, telephone and a website to lure potential customers to buy illegal OTC binary options through companies such as Blue Bit Banc, and tried to induce customers to use them. The meta-option account balance is transferred to a virtual currency called "ATM Coin" to cover up the misappropriation. Earlier, the US government sentenced Blake Kantor to 70-87 months in prison.