A court in New York has found Eddy Alexandre, founder of the EminiFX platform, guilty of fraud, leading to significant repayment requirements for affected investors.
Fraudulent Activities of EminiFX
EminiFX began operations in 2021, attracting over 25,000 investors and accumulating over $262 million. The platform claimed to provide returns between 5% and 9.99% through automated trading strategies. However, court documents revealed that EminiFX experienced net losses of approximately $49 million, and the technology it promoted was never utilized.
Legal Consequences for Alexandre
Judge Valerie Caproni's ruling obligates Alexandre and EminiFX to collectively pay over $228 million in restitution and an additional $15 million in disgorgement. Since his initial charges, Alexandre confessed to commodity fraud and has received a nine-year prison sentence.
Increase in Losses from Crypto Fraud Cases
According to reports from CertiK, losses from crypto scams amounted to $2.47 billion in the first half of 2025. This includes 144 incidents, reflecting a 52% decrease compared to the previous quarter. Investors are growing increasingly concerned as losses have risen by 3% compared to the previous year.
Court actions against fraudulent schemes like EminiFX highlight the importance of transparency and legality in the cryptocurrency sector. The increasing losses from fraud also raise concerns among investors.
