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crypto scandals expose fraud and deception in digital asset industry
Several figures in the crypto industry have landed on Santa's "Naughty List" for 2024 due to alleged scams and misconduct. Pastor Eli Regalado is accused of defrauding church members of $3.2 million through a bogus crypto token, while brothers Jonathan and Tanner Adam face SEC charges for a $60 million Ponzi scheme. Additionally, crypto influencer Sahil Arora is under scrutiny for exploiting celebrity connections to profit from meme coins, and viral star Hailey Welch's HAWK token launch has been criticized for insider trading signs. The SEC has ramped up enforcement actions, reflecting a growing crackdown on fraudulent activities in the digital asset space.