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Case Studies

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In-depth investigations of major financial frauds using official government documents, court records, and victim testimonies

Case Studies

Bitconnect Ponzi: Complete Timeline of $2.4 Billion Scam

Bitconnect founder Satish Kumbhani analyzing a holographic blueprint of the Bitconnect Ponzi scheme, showing how he diverted $2.4B from new victims to his personal vault

“BITCONNEEEECT!” The scream heard around the world. The promise of 1% daily returns. The trading bot that didn’t exist. And the $2.4 billion Ponzi that collapsed in 24 hours, destroying hundreds of thousands of lives. This is Bitconnect—crypto’s original sin.

BBO
October 28, 2025

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Case Studies

Celsius Network bankruptcy: Why 1.7 Million Users Lost Everything

Alex Mashinsky depicted as a gangster, smoking a cigar and fishing for crypto coins in a 'pond' of user deposits, symbolizing the theft in the Celsius Network bankruptcy.

They called it a bank. Promised 17% interest. “Unbank yourself,” the CEO said. 1.7 million people believed him. Then, one Friday in June, withdrawals stopped. $25 billion trapped. Accounts frozen. And the CEO who promised “we’re safer than banks” was secretly gambling with your money. This is how Celsius destroyed everything.

BBO
October 27, 2025

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Case Studies

Luna Collapse: How Terra Destroyed $60 Billion in 3 Days

A financial horror image of Do Kwon on a throne of coins, mocking victims with his quote "I DON'T DEBATE THE POOR" before the Luna collapse.

$60 billion. Gone in 72 hours. A stablecoin that wasn’t stable. An algorithm that failed spectacularly. And a founder who promised it was mathematically impossible to collapse. Then it did. This is the story of Luna—the fastest wealth destruction in crypto history.

BBO
October 27, 2025

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Case Studies

FTX Bankruptcy: Sam Bankman-Fried’s $8 Billion Fraud Breakdown

A digital illustration of Sam Bankman-Fried as a puppet master, showing his fraudulent control over both FTX and Alameda, the core crime in the FTX bankruptcy.

The crypto golden boy with wild hair and a $26 billion fortune. The exchange that promised to be “safer than banks.” Then, in 72 hours, everything vanished. $8 billion stolen. 1 million customers destroyed. This is how Sam Bankman-Fried built the biggest fraud in crypto history.

BBO
October 26, 2025

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Case Studies

Nikola Motors Fraud: The $34 Billion Fake Hydrogen Truck Company

Feature image for the Nikola Motors fraud showing founder Trevor Milton in front of two futuristic semi-trucks with the text 'The $34 Billion Hoax' overlaid.

They promised a revolution in clean energy. They showed the world a silent, powerful hydrogen truck. But the truck had no engine—it was a ghost rolling downhill. Discover the full story of the Nikola Motors fraud, a $34 billion illusion that fooled the world and left a trail of financial ruin.

BBO
October 9, 2025

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Case Studies

Synthetic Meat Startups: The Billion-Dollar Dream Crashed

Two plant-based burger patties served on a white plate with fresh ingredients like wheat, beans, and carrots. it's synthetic meat startups.

The synthetic meat dream collapsed under its own weight. Discover the true reasons why the billion-dollar hype, celebrity endorsements, and bold promises failed to conquer the dinner table.