John McAfee Exploited Cryptocurrency Market for Three-Times Gain

John McAfee, a renowned IT entrepreneur and founder of Mcafee Antivirus, and a sortie into crypto investing found dead in his prison in Barcelona, Spain. The famous IT professional was 75 years old at the time of his demise.

The whole situation became complicated when authorities in their early investigation had declared his death as a suicide. John McAfee was recently accused of cryptocurrency fraud by The US Department of Justice (DoJ).

The US Department of Justice stated the information technology, especially software developing tycoon was charged with fraud and money laundering sedition following two cryptocurrency ruses. These ruses involved altcoins circulation on social media via McAfee’s Twitter account.

The US Department of Justice and many independent sources claimed that Mcafee and some of his associates made over $13 million in this scheme. Mcafee later sold his position for about $30,000.  Like Mcafee, Elon Musk was another tech mogul who had shaken the crypto market. 

According to Wired, McAfee propagated the positives of altcoins and misguided masses on purpose. Authorities also told that even with the slightest of fluctuations in the prices, he would sell his stakes.

Reports further claimed that he was creating hype about more established coins like Zcash or Monero before his arrest. The coin’s price hiked 500% following his tweets about these schemes. The list of his heinous crimes goes on. It was revealed by authorities that in November 2012, Mcafee was accused of murdering his neighbor.

Mcafee was on the cusp of greatness but lately, he indulged in consumption of alcohol, drugs, and other vices. A few days before his death, Mcafee tweeted in which he stated that US officials were certain, telling him that “We are going to kill you.”

The authorities in their detailed report claimed that they had solid evidence about Mcafee’s financial misconduct as well as his involvement in murdering his neighbor. The US Department of Justice has further added in its report that Mcafee used his identity wrongly and tried to misguide millions of cryptocurrency traders and investors. Mcafee has used his stature and social presence to exploit the crypto market for extraordinary gains.

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