Wu Shuo learned that New York State Attorney General Letitia James announced on October 22 that he had applied to the court to order the founders of the cryptocurrency investment platform NovaTech, Cynthia Petion and Eddy Petion, to pay approximately $1.367 billion, including approximately $1.135 billion in recovered illegal gains and $232 million in pre judgment interest. According to court documents, NovaTech received approximately $1.161 billion worth of cryptocurrency deposits between August 2019 and May 2023, but only transferred approximately $25.99 million to the trading platform, of which approximately $18.19 million incurred trading losses. At least $134.5 million in encrypted assets were transferred to the wallets of the two founders. The prosecution alleges that NovaTech attracted investors by promising a weekly investment return of 2% -4%, but actually used new investor funds to pay for so-called trading profits and recruitment bonuses. The two founders have left the United States, and the court ruled in absentia in August 2025. In addition, the four involved promoters have agreed to pay a total of nearly $6 million and have been permanently banned from participating in the securities, commodities, and cryptocurrency industries. https://www. (wublock123.com)/news/novatech-founder-ordered-pay-1-367b-crypto-ponzi-fraud-70595