🎄 Cryptonary Christmas Sale! 50% OFF. Save $500 Now Only ⏰ : 1d 0h 19m 35s
Crypto trader sentenced to 42 months in prison for fooling over 170 people
The United States Attorney for the Southern District of New York, Damian Williams, has announced that Jeremy Spence would be sentenced to 42 months in prison for defrauding more than 170 victims in connection with various crypto funds.
42 months in prison for scamming in crypto
Damian Williams, also known as "Coin Signals," pleaded guilty in front of U.S. District Judge Lewis A. Kaplan, who handed out the sentence on Wednesday. Spence admits that he used false profits of up to 148% to entice investors to his scammy crypto investment scheme.According to court filings, Spence solicited investors in several crypto investment pools that he had founded and maintained from November 2017 to April 2019. He raised money for several funds, including the Coin Signals Bitmex Fund, also known as the "CS Mex Fund," the Coin Signals Long Term Fund, and the Coin Signals Alternative Fund, also known as the "CS Alt Fund." Investors that chose to invest in a Fund would send crypto to Spence.
Spence gained more than $5 million by making false claims. For example, on January 28, 2018, he falsely claimed in an online chat group that his trading of investor funds had created a return of more than 148% over the past month. Investors sent more money to Spence as a result of the misinformation. He kept raising money for his scam by creating fake account balances, which helped to keep investor redemptions at bay.
Increasing frauds
This is not the first time someone is using this method to fool newcomers in the crypto industry. As Cryptonary reported, a businessman in India has been scammed by an unknown group that used a fake trading platform. Apart from that, social media applications like Twitter, Instagram, Telegram, and Discord often see bogus entities who claim to be pro-crypto traders and fool people into taking their money.Governments around the world are issuing warnings against such groups. These actions have significantly decreased, but much improvement is still essential.
Continue reading by joining Cryptonary Pro
$997 $497/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
3X Value Guarantee
If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the 3X Value Guarantee work?
We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.
Recommended from Cryptonary
