On May 21, the U.S. Department of Justice officially charged Jeremy Jordan-Jones, founder of Amalgam Capital Ventures, with a series of serious offenses: money transfer fraud, securities fraud, bank fraud, and identity theft.
🚨 “Virtual” startup, real money, severe consequences
Under the guise of a blockchain company providing POS and security solutions, Jordan-Jones is accused of fabricating false partnership stories, forging bank statements, and exaggerating finances to misappropriate investment funds.
Instead of developing technology, he used the money to buy luxury cars, vacations, designer clothes, and to spend lavishly in Miami. The indictment shows that the company had no real customers, no real products, only… empty promises.
If convicted, Jeremy Jordan-Jones could face up to 30 years in prison along with orders to forfeit fraudulent assets.
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🔍 Quick analysis: Investors need to be more vigilant
• Blockchain is not immune to fraud. Technology is just a tool — bad actors can still exploit it without clear legal frameworks.
• The fundraising stage is easily manipulated. Lack of auditing, lack of transparency, yet raising millions of dollars — a model that can easily become a “legal tool for fraud.”
• Don't believe in buzzwords. Web3, tokens, AI… are just keywords – check if there is a real product, if customers are using it, and if revenue is transparent.
• The legal environment is tightening. Such cases will prompt the US government to take stronger action against the blockchain/web3 industry soon.
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⚠️ Don't get swept up in the hype wave
❗ Be vigilant, verify thoroughly, and demand transparency before investing in any Web3 projects. The market is growing — but it is also full of traps.
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🧠 What do you think about this case? How many “smelly” blockchain projects are still undisclosed?
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