How an OTC Bitcoin Scammer Almost Stole $600 Million

OCT trading involves high value deals that can run into the hundreds of millions of dollars. Whales want privacy and zero slippage, which isn’t possible on a cryptocurrency exchange, while buyers want large quantities of bitcoins at below market rates. It’s an arrangement that suits both parties, but for it to work, trust is essential as the cautionary tale of a $600 million OTC scam shows.

Also read: India Bitcoin Caper: 10 Cops Busted Over Kidnapping and Extortion

The 99,000 Bitcoin...

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