Utah man sentenced to 3 years for $3M crypto fraud

A Utah man has been sentenced to three years in prison for defrauding investors of $3 million by operating an unlicensed cryptocurrency exchange, Decrypt reported. He was found to have lured investors by misrepresenting his educational background and professional experience while promising high rates of return. In addition to the prison sentence, the court ordered him to pay $3.8 million in restitution.