The Bitcoin world seems to have an awful lot of incompetent fraudsters. This particular one is surprising, because I don&#x27;t see how they thought they could get away with it; the scheme described in the SEC complaint is one that would be guaranteed from the start to unravel, and the perpetrators weren&#x27;t anonymous.<p>What they did was, they sold shares in a Bitcoin mining operation corresponding to hashing power, and kept selling long after their actual mining equipment had sold out. They then used the revenue from those sales to buy Bitcoin on the open market, and misrepresent those purchased coins as newly-mined coins for withdrawals.<p>Seriously, how could they possibly have thought that would work out?