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Cryptocurrency has increased in popularity, which has led to more frequent— and sophisticated — schemes in recent years as scammers look to take advantage of investors.

The four cryptocurrency fraud cases announced by federal prosecutors this week include the single largest NFT scheme charged to date.

<p><span>The Department of Justice, together with federal law enforcement partners, today announced criminal charges against six defendants in four separate cases for their alleged involvement in cryptocurrency-related fraud, including the largest known Non-Fungible Token (NFT) scheme charged to date, a fraudulent investment fund that purportedly traded on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial coin offering.&nbsp;&nbsp;</span></p>

Disgraced lawyer Michael Avenatti entered a guilty plea on Thursday in a California federal court on wire fraud and tax-related charges. 

A former California man made a court appearance earlier this week after being apprehended and deported from Costa Rica, so that he could be sentenced by a federal judge on his U.S. conviction for tax crimes.