Stefan He Qin, the founder of two cryptocurrency hedge funds has been sentenced to more than seven years in prison after U.S. authorities found that he cheated investors out of $54 million, A Sept. 15 statement from the U.S. Department of Justice (DoJ) announced that U.S. District Judge Valerie Caproni handed Qin a 90 month sentence for defrauding his investors out of $54 million. The 24-year-old Australian owned and operated two cryptocurrency investment funds between 2017 and 2020 — Virgil Sigma and VQR, the latter of which was founded in February 2020.