Jorg Molt Bitcoin Pension

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Jorg Molt

Jorg Molt claimed to be a co-founder of bitcoin, and claimed to have 250,000 bitcoins. His "Bitcoin Pension" project raised over $2.14m from investors that was supposedly going to be invested into mining equipment. It appears no mining equipment was purchased, and investors lost their funds. Jorg gained prominence as many people were fooled and gave him publicity as the cofounder of bitcoin. It is not believed that any investors recovered their funds. Jorg was later arrested.

This is a global/international case not involving a specific country.

About Jorg Molt

"In 2019, a man with Fabio-like hair entered the cryptocurrency scene with questionable claims when he told a slew of people he helped co-found the creation of Bitcoin."

"Jörg Molt once claimed he helped invent Bitcoin and also said he was good pals with ​​Andreas Antonopoulos after a wild appearance at the 2019 WCC Vegas Blockchain Week conference. Molt allegedly went around the conference in Las Vegas claiming to be the co-inventor of Bitcoin." "Back in 2019, during the WCC Vegas Blockchain Week event, Molt told people he held more than 250,000 bitcoin."

"Molt, who is also a well-known DJ in Germany, reportedly told investors that the funds he obtained would go to BTC miners in Sweden." "His plan is to use 60% of all investments to buy Bitcoin mining hardware and generate steady profits with a Sweden-based facility. The remaining 40% is said to be kept in a safe account. In the worst-case scenario, Molt claims that funds can be withdrawn from the account at any time." "40% of the funds were allegedly kept in a safe account."

"Molt has promised to give 1 BTC to one of the random people who spreads his message."

"I'm Joerg Molt. I co-founded Bitcoin. Craig Wright is not the inventor of Bitcoin. I know well who Satoshi Nakamoto real identities are. Also, I have 250,000 BTC, and I will give 1 BTC to a random follower who retweet this tweet. RT and follow for a chance to win 1 BTC."

"The self-proclaimed Bitcoin inventor named Jörg Molt not only offered a “Satoshi School” but allegedly ran a number of scams on the side." "The “Bitcoin Pension” closed down in 2020 after many community members started calling it an alleged scam. During the investigation, it seems that the self-proclaimed Satoshi never intended to invest the Bitcoins he received into mining. Even without malice against Molt’s divisions, his venture clearly lacks a viable business model to deliver on its lofty promises."

"[H]is ex-wife filmed a Youtube video claiming Molt didn’t even own a computer in 2008 when the Bitcoin network launched." "Kenneth Bosak has gone out of his way to expose Molt as a scammer. The clip Bosak posted on Twitter on November 1st, shows him pointing at Molt and saying that he is a scammer, followed by a brief scuffle in which there were a lot of verbal threats and no physical altercations." "After the story went viral, Antonopoulos discredited his claims and stressed that he didn’t know Molt at all."

“Apparently, a German person called ‘Jörg Molt’ has been showing a selfie taken with me and telling people that we are friends — This is a LIE,” Antonopoulos tweeted at the time. “I don’t know him at all — I have heard from others that he claims to be the founder of Bitcoin and has thousands of BTC — A LIE.”

"Molt is often referred to as Faketoshi more than his self-styled nickname. He shot to fame again for 15 minutes in November 2019 after he had an angry confrontation with cryptocurrency commentator Kenneth Bosak at World Crypto Con in Las Vegas. Many prominent crypto figures have the German DJ up to the task after he joined the list of self-proclaimed Bitcoin creators."

"The publication Bild reports the 48-year-old man was arrested by Bavarian police at Frankfurt Airport over accusations of fraud." "Law enforcement officials believe Molt has been behind some scams also involving a 54-year-old woman who was allegedly his companion. The Bavarian police also searched Molt’s home and found evidence tied to the investigation."

"Molt is being charged with defrauding 50 people for $2.14 million with a scheme dubbed the “Bitcoin Pension” project."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

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• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

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The Reality

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• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Jorg Molt Bitcoin Pension

Date	Event	Description
October 31st, 2019 6:38:00 PM	Main Event	Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost has been estimated at $2,140,000 USD.

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Immediate Reactions

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Ultimate Outcome

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Total Amount Recovered

There do not appear to have been any funds recovered in this case.

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Ongoing Developments

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Prevention Policies

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