The good news is the FTC will return almost half a million dollars to victims of the Bitcoin Funding Team gifting scheme.

The bad news is this equates to around $59 per victim.

The FTC sued Bitcoin Funding Team founders and promoters back in 2018.

Rather than defend the case, defendants Scott Chandler, Louis Gatto, Thomas Dluca and Eric Pinkston settled with the FTC in August 2019.

Although their respective settlements ran into the millions, ultimately far less was awarded in monetary judgments.

As per a November 4th press-release, the FTC advises;

the FTC will send 7,964 refunds through PayPal beginning on November 5, 2020.

Recipients who receive a refund via PayPal will have 30 days to accept the payment.

Anyone wanting further details is instructed to contact the FTC’s refund administrator directly.