PANews reported on May 18th that, according to Bits.media, the U.S. Department of Justice announced the initiation of restitution proceedings for victims of the cryptocurrency mining scam AirBit Club. Founded in 2015, AirBit Club operated a pyramid scheme under the guise of a cryptocurrency mining and trading platform. U.S. authorities have already seized over $400 million in assets for restitution. Victims who previously provided information to the FBI or prosecutors will be contacted by RCB Fund Services. Prosecutors stated that the restitution process will be free of charge. The founder of AirBit Club was indicted by the U.S. Attorney's Office for the Southern District of New York in August 2020 on money laundering and fraud charges. The trial concluded in September 2023, with the court ordering the forfeiture of all proceeds of the fraud, including over 16,000 bitcoins.