[U.S. Department of Justice Initiates Compensation Process for Victims of Crypto Mining Scam AirBit Club] According to Bits.media, the U.S. Department of Justice has announced the initiation of a compensation process for victims of the crypto mining scam AirBit Club. Founded in 2015, AirBit Club operated a financial pyramid scheme under the guise of a crypto mining and virtual currency trading platform. U.S. authorities have seized over $400 million in assets for compensation purposes. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. Prosecutors stated that the compensation process will not incur any fees. The founders of AirBit Club were charged with money laundering and fraud by the Southern District of New York prosecutors in August 2020. The trial concluded in September 2023, with the court ordering the forfeiture of all fraudulent proceeds, including over 16,000 Bitcoins.