Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud

The scheme allegedly included offering bitcoin at “half market price.”

AccessTimeIconFeb 6, 2021 at 5:35 p.m. UTC
Updated Aug 19, 2021 at 7:07 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million.

The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged. 

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The binary options were advertised as “an average payout of 80%, and promised 20% refunds on every lost trade.” The fraudulent advertisements also claimed investors could “purchase bitcoin at half market price” on its crypto mining platform, the department alleged in a statement.

    Serbian authorities arrested Antonije Stojilkovic, 32, in July of last year, and the FBI delivered him to the Northern District of Texas this past Thursday. He is alleged to have had five Serbian co-conspirators and one U.S.-based co-conspirator.

    The DOJ claims the defendants created false trading activity, withdrawal history and wire receipts.

    If convicted, Stojilkovic and his co-defendants face up to 20 years in federal prison.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about