Is Madoff a Madoff of the crypto World?

He is basically a Madoff of the crypto world that happened, literally, in a short period of two or three years. Madoff did it over 30+ years, and the sad news is that there's so many reputable investors who get fooled by a 30-year-old individual."

Where did Madoff's money go?

One of the hallmarks of a Ponzi scheme is that most of the missing money ends up in the hands of unwitting investors, not the perpetrator of the fraud. Rick Antle, a professor of accounting at Yale SOM who is helping in the Bernie Madoff restitution effort, discusses the complexities of cleaning up Madoff's mess.

How did the Madoff investment scandal affect investors?

The Madoff investment scandal defrauded thousands of investors of billions of dollars. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking records for Madoff since the early 1970s.

Could Madoff have been a red flag if he lost money?

“With Madoff, you could’ve done all those things and it wouldn’t have protected you,” Roper said of the common warning signs. “He was like the darling of the financial world [before his con was exposed].” Losing money isn’t necessarily a red flag, in and of itself, especially if it occurs in a down market.