Forsage Co-Founder Enters Not Guilty Plea in $340M Crypto Ponzi Scheme

Olena Oblamska, co-founder of Forsage, has pleaded not guilty to wire fraud conspiracy charges in a federal court after her extradition from Thailand.

The case involves a $340 million crypto-based Ponzi scheme that was prosecuted by the US Department of Justice as one of the largest of its kind. Blockchain analysis revealed over 80% of investors received less than their initial investment, with more than half receiving no returns.