From April 2014 to December 2019, the BitClub network was a fraudulent scheme that solicited funds from investors in exchange for stakes in so-called cryptocurrency mining pools and rewarded their investments, according to an announcement issued by the U.S. Attorney's Office in New Jersey. to recruit new investors into the program. Over the five-year period of the program, BitClub defrauded investors of at least $722 million in bitcoin.