In 2012, Matthew Ogness and Michael Marquardt ran a Ponzi in cooperation with Trendon Shavers (then known as Pirate). Exact numbers are not known, but Matthew paid out a planned reserve fund of 1% (approx. 60 bitcoins out of 6,000) and pocketed the rest. He then focused on a charity / ICO scam that he and Michael run to this very day.

This weekend (April 17, 2021) Bitcoin experienced a flash crash, plunging nearly 14% in less than an hour, from about $59,000 to $51,000. The sharp price fall this weekend seems to have been triggered by an unconfirmed Twitter rumor that the US Treasury was planning to crack down on money laundering schemes involving cryptocurrencies.

NastyFans is an ongoing, unlicensed, tax evasion scam where in theory Matthew takes in donations, uses them to buy bitcoin mining equipment, and then donates the profits back to those who were forced to donate to him. In reality, he used the ICO funds (his words) to buy solar panels, air conditioning and exercise equipment for his house. While he claims to have a ROI of 125%, actual donators have received a return again around 1%.