According to the charges, Reichenthal and Levine participated in two fraudulent schemes. In the first, in 2018, Levine tricked a man into transferring more than €3 million to Reichenthal from an over-the-counter cryptocurrency broker to finance the purchase of bitcoin, which was never completed. In the second, in 2019, Levine persuaded a Florida man to send over €2 million to Reichenthal to buy bitcoin, which he, too, did not buy.