FTC Sues IYOVIA Over Alleged $1.2 Billion Cryptocurrency Fraud

The Federal Trade Commission (FTC) has filed a lawsuit against IYOVIA, accusing the company of orchestrating a significant cryptocurrency fraud scheme that may have defrauded investors out of over $1.2 billion. The FTC alleges that IYOVIA misled consumers with deceptive marketing tactics and promised unrealistic returns on investments, leading to losses for many unsuspecting individuals. This lawsuit underscores the increasing scrutiny surrounding cryptocurrency businesses as regulators work to combat fraudulent schemes in the digital currency market. This case could set a precedent for future actions against similar scams within the crypto space.