On October 10, 2025, Cory Kromray, founder of Driven Trading, pleaded guilty to one count of wire fraud and one count of money laundering in the U.S. District Court for the Western District of Wisconsin, per. This follows a May 2025 indictment alleging Kromray solicited $3.6 million from investors between September 2018 and August 2024, promising trades in stocks, mutual funds, cryptocurrency, and forex, but misappropriating funds for personal use, per. The plea hearing is scheduled for November 7, 2025, with a prior January 6, 2026, trial date struck, suggesting acceptance of the plea, per. Kromray faces up to 20 years for wire fraud, 10 years for money laundering, fines up to $250,000, and three years supervised release, plus restitution of $828,266 and forfeiture of related assets, per.
Driven Trading, marketed as a non-MLM “automation license” trading app, spun off from IX Global, a Ponzi scheme, with Kromray as CEO, per. The indictment details how Kromray accepted funds under false pretenses, using them for personal expenses instead of investments, per. YEP dropped Driven Trading amid securities fraud concerns, and Kromray’s NFT “cashgrab” added to allegations, per. Wisconsin Department of Revenue issued tax warrants, with Kromray’s boat sale signaling financial strain, per. X posts from @CryptoLawyerz highlight the case as a warning for crypto trading scams, with no recent updates on Kromray’s status, per.
Kromray’s guilty plea aligns with rising U.S. enforcement against crypto fraud, with $3.6M losses mirroring schemes like BitClub Network ($722M) and Forsage ($340M), per. The SEC and DOJ emphasize restitution, with Kromray’s $828,266 repayment underscoring accountability, per. Driven Trading’s merger with IX Global and unlicensed operations violated the Commodity Exchange Act, per. This case may deter similar “automation” platforms, with Nasdaq delistings like Windtree Therapeutics serving as warnings for crypto pivots, per. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain unaffected, per CoinMarketCap.
Investors should verify platforms via sec.gov and cftc.gov, avoiding unlicensed trading apps, per. Diversify into USDC or ETH with stop-losses below BTC’s $112,000, per TradingView. Follow @TheBlock__ on X for enforcement updates. Kromray’s plea could lead to sentencing in early 2026, with full restitution aiding victims, but ongoing SEC scrutiny on DeFi and MLM schemes highlights risks, per.
