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Serial investment fraudster admits he stole $50M via his fake Bitcoin trading site

British scammer Renwick Haddow has admitted to a US court that he had been running a fake Bitcoin trading platform that conned more than $50m from victims based all over the world.  He also admitted he’d made even more in a property fraud in which he sold office space that never existed. 

Haddow was first arrested in Morocco in 2017 then extradited to the US where he was charged with 2 charges of wire fraud, one for the Bitcoin fraud and the other for his property fraud.  As a result he is now looking at up to 40 years in jail although, at time of writing, he hasn’t received his final sentence.

From the hearings in the US it appears Haddow is no stranger to fraud and deception. 

He has a history of running investment scams (sometimes under the pseudonym ‘Jonathan Black’) which led to him being banned from trading in the UK after British regulators discovered he’d been scamming Hearst publications, the publishing company behind Cosmopolitan.   

In another relatively recent case Haddow and his collaborators were ordered to pay $20m for their roles in a series of other investment scams.

While the total Haddow has managed to amass on the back of this Bitcoin scam are eye-watering, this is certainly not a one-off. 

As a firm we have specialised in resolving disputes involving Bitcoin and cryptocurrency fraud since the very earliest days of crypto trading.  Unfortunately we have to report that the instances of clients coming to us telling us they have lost significant sums in all manner of increasingly sophisticated cryptocurrency frauds are only increasing.  And the frequency with which the news covers similar stories only serves to back up our experience.

Earlier this year a man from Jersey lost his entire life savings - $1.5m – after he was tricked into making fake Bitcoin trades.  Another area that looks to be at particular risk is the UAE.  In the Haddow case 150 victims came from the UAE and they lost approximately $15m in this fraud alone and that was reported only months after fraudsters stole more than $250,000 from Chinese businessmen in Dubai who had been suckered into buying cryptocurrency by dishonest Facebook adverts posted by the criminals.

Our law firm specialises in resolving Bitcoin and cryptocurrency disputes.  We have helped many clients reclaim the money they lost through fake trading sites, phishing and other forms of digital fraud.  If you have lost money as a result of a Bitcoin or crypto fraud and want to discuss what you should do to get that money back, please call us today on 020 7792 5649 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

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MLA 2017 18 Shortlisted 2