The DOJ has announced over $400 million will be made available to victims of the AirBit Club Ponzi scheme.

Dubbed the “remission compensation process”, distribution funds are mostly made up of forfeited assets.

Per a May 11th DOJ press-release, arrested AirBit Club scammers were

ordered to forfeit all of their fraudulent proceeds realized from the scheme, which included substantial amounts of virtual currency.

To date, the United States has forfeited over $400 million in assets which are now available to compensate eligible victims for their compensable losses.

Any victims who have previously provided their information to the FBI or U.S. Attorney’s Office will be contacted by the remission administrator, RCB Fund Services, LLC, (RCB) to file a petition.

An AirBit Club Victim Fund website has been created with more information.

AirBit Club was a $100 million MLM crypto Ponzi scheme launched back in 2015. The jump from $100 million to over $400 million is assumed to be due to fluctuation in cryptocurrency trading values.

Following AirBit Club’s collapse, indictments dropped in August 2020.

AirBit Club co-founders Pablo Renato Rodriguez and Gutemberg dos Santos were respectively sentenced to 12 years and 3.3 years in 2023.

A parallel SEC civil fraud case remains pending, although at this point is assumed mostly resolved through criminal proceedings.