In the recent event of news, Italy has been accused of one of the largest crypto fraud schemes in the history of cryptocurrency. The alleged man responsible has been stated by the police investigators to possess the initials of F.F. and could be 34 years old while not as much has been known. The fraud occurred in 2019 through a crypto exchange named - Bit Grail. The exchange has filed bankruptcy while around 230,000 people have been allegedly victimized with approx $146 million.