Remember pirateat40, the e-currency banker we speculated could be the Bernie Madoff of Bitcoin ? Well, it looks like he owes a lot of people money. On August 17, pirateat40 announced the closure of Bitcoin Savings & Trust , a virtual hedge fund that promised to pay high rewards to investors who parked their Bitcoins there. Ten days later, investors are still waiting to get paid and pirateat40 is on the defensive.

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Suspected multi-million dollar Bitcoin pyramid scheme shuts down, investors revolt

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