币界网报道：BitMama CEO Sentenced to 7 Years in $23M Bitcoin Scam The CEO of cryptocurrency exchange BitMama has been sentenced to seven years in prison for orchestrating a $23 million Bitcoin investment scam that defrauded over 250 investors. Prosecutors revealed that the scheme promised high returns through a purported algorithmic trading system but instead operated as a Ponzi scheme, using new investors' funds to pay earlier participants. Authorities seized approximately $5 million in assets, including luxury vehicles and real estate purchased with stolen funds. The sentencing follows a two-year investigation involving international law enforcement cooperation, with victims spanning multiple countries. The court also ordered full restitution, though officials acknowledged recovering the entire amount may prove difficult given the scale of losses. This case marks one of the largest crypto fraud prosecutions in the region this year, signaling regulators' increased focus on combating fraudulent investment schemes in the digital asset space.