Bitcoin mining company settles FTC charges over deceiving customers

Bitcoin mining company settles FTC charges over deceiving customers

© Dimitris Michalakis / Reuters

Butterfly Labs, its vice president of product development Sonny Vleisides and general manager Darla Drake settled charges that they deceived thousands of customers about the quality of their machines, designed to mine Bitcoin virtual currency, and that they unfairly kept consumers' payments despite failing to deliver the machines as promised.

(Reporting by Megan Cassella)

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