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Litigation Tracker

An overview of major litigation cases in crypto. Main page includes a general list with available docket links and press releases.
Although this page is frequently updated and contains what the authors believe are most of the cases involving crypto in the designated sections, new actions are frequently filed. You should always conduct your own research and, as relevant, retain your own counsel before making any legal decisions.

Color Keys - Regulatory

The below color keys indicate the theories of liability advanced by the government in various types of proceedings. The major theories (i.e., most commonly asserted) are listed, with some references to less common also listed.
SEC
CFTC
DOJ
🟥 = Fraud (F)
🟦 = Market Manipulation (MM)
🟧 = Initial Coin Offering (ICO) / Unregistered Sale (US)
🟩 = Anti-Touting (AT)
🟪 = Control Person / Aiding and Abetting (CP)
🟫 = Unregistered Broker or Dealer (UBD)
🟨 = Unregistered Exchange / Clearinghouse (UEC)
  • Unregistered - Exchange - Exchange Act § 5 (15 USC § 78e)
  • Unregistered Clearinghouse - Exchange Act § 17A(b) (15 USC § 78q-1(b))
⭕️ = Other:
  • Petition to compel subpoena responses.
  • Deficiencies in attempted registration
  • Revocation of registered securities
  • Unregistered digital asset security exchange
  • Purchase/sale of security-based swaps in violation of Securities Act § 5(e), and effecting transactions in those swaps outside of registered exchanges in violation of Exchange Act § 6(l).
🟥 = Fraud (F)
🟦 = Market Manipulation (MM)
🟧 = KYC/CIP/AML Failures (KYC) –
🟩 = Off-Exchange Transactions (OET)
  • Illegal off-exchange retail swaps, CEA § 2(e) (7 USC § 2(e))
  • Conducting off-exchange futures transactions with non-eligible contract participants or eligible commercial entities, CEA § 4(a) (7 USC § 6(a))
  • Illegal off-exchange commodity options, CEA § 4c(b) and Regulation 32.2 (7 USC § 6c(b), 17 CFR § 32.2)
🟪 = Control Person / Aiding and Abetting (CP)
  • Failing to act in good faith or knowingly inducing acts constituting violations of the Act, CEA § 13(b) (7 U.S.C. § 13(b))
🟫 = Unregistered (UR)
⭕️ = Other
🟥 = Fraud (F)
🟦 = Money Laundering (ML)
🟧 = Forfeiture (FF)
⭕️ = Other

Regulatory Litigation

Each tab covers litigation by the federal government in court or an administrative proceeding, as applicable. The Challenges section involves cases where the plaintiff is suing the government, usually an administrative agency, for relief of some kind.
SEC
CFTC
DOJ/Criminal
Misc Fed/State
Challenges
Date / Type
Name / Court / Docket Link
Notes
2023.09.13 🟧 US
In re Stoner Cats 2, LLC, No. 11233 (Admin Proc. 2023.09.13) – Press ReleaseDissenting Statement of Commissioners Peirce and Uyeda
Second case against NFT project, this one based on the creation of a series of short animated films featuring stars like Ashton Kutcher and Mila Kunis. The order concludes the Stoner Cats NFTs were sold as an unregistered securities offering, on the basis that the proceeds of the NFT sales would be used to develop the animated films and because there was an active secondary market in the NFTs before and after the release of the films. Settlement order required destroying all NFTs in company's possession, publishing notice of the order, and administering distribution plan for the $1 million civil penalty to harmed investors.
2023.08.28 🟧 US
In re Impact Theory, LLC, No. 11226 (Admin. Proc. 2023.08.28) – Press Release – Dissenting Statement of Commissioners Peirce and Uyeda
First of its kind enforcement action based on sale of NFTs as an unregistered securities offering as an investment contract under the Howey test based on promises of “tremendous value” to KeyNFT purchasers, raising $29 million. Impact Theory also stated that it would use the offering proceeds for “development,” “bringing on more team,” and “creating more projects.” Settled in exchange for: destruction of all KeyNFTs held by Impact Theory, removing royalties required by the smart contract, and disgorgement/penalties of over $5 million, among other remedies.
2023.08.23 🟥 F 🟧 US
SEC v. DeSalvo, No. 1:23-cv-08092 (D.N.J. 2023.08.23) – Press Release
Fraudulent sale of “Blazar token” through an unregistered securities offering, an ICO, promising extraordinary investment returns, while falsely claiming that the token was registered with the SEC. DeSalvo rapidly sold his massive amount of Blazar tokens shortly after the ICO, crashing the market price of the token, and misappropriated investor funds for personal use. Related criminal action by DOJ brought simultaneously.
2023.07.31 🟥 F 🟧 US
SEC v. Schueler, No. 1:23-cv-05749 (E.D.N.Y. 2023.07.31) – Press Release
Fraudulent and unregistered sale of the following tokens by Richard Scheuler a/k/a Richard Heart: Hex, PulseChain (PLS), and PulseX (PLSX), marketed as the first high-yield "blockchain certificate of deposit," promoted as an investment designed to make people "rich" by offering returns as high as 38 percent.
2023.07.26 🟥 F 🟧 US 🟫 UBD
SEC v. Digital Licensing Inc., No. 2:23-cv-00482 (D. Utah 2023.07.26) – Press Release
Action against proprietors of "DEBT Box" that fraudulently sold investors unregistered crypto asset securities in the form of "node licenses" to permit them to "mine" a number of different cryptocurrencies supposedly tied to real-world assets like gold and oil; in reality the tokens were simply created ERC-20 tokens and were never mined and not tied to real world assets. Defendants instead used investor funds for personal luxry expenses.
2023.07.21 🟧 ICO
SEC v. Quanstamp, Inc., File No. 3-21535 (Admin Proc. 2023.07.21) – Press Release
Administrative settlement regarding ICO of QSP tokens in 2017, raising $28 million. Settlement includes $3.5 million in disgorgement, fines, and interest, and a requirement to burn all remaining QSP tokens in Quanstamp's treasury.
2023.07.13 🟥 F 🟧 US
SEC v. Celsius Network Ltd., No. (S.D.N.Y. 2023.07.13) – Press Release
Parallel enforcement action with DOJ, CFTC, and FTC. Celsius along with former CEO Alexander Mashinsky, charged with securities fraud and unregistered sale of the company's crypto token, CEL.
2023.06.22 🟥 F
SEC v. Ichioka, No. 3:23-cv-03093 (N.D. Cal. 2023.06.22) – Press Release
Parallel enforcement action with DOJ and CFTC. Securities fraud charges over crypto-based scheme "Ichioka Ventures." Falsely promised 10% monthly returns, defrauding 100+ people of tens of millions. Used funds for luxury items, personal expenses, and repaying older investors.
2023.06.06 🟧 US 🟨 UEC 🟫 UBD 🟪 CP
SEC v. Coinbase, Inc., No. 1:23-cv-04738 (S.D.N.Y. 2023.06.06) – Press Release
Action against crypto exchange Coinbase and its holding company for operating as an unregistered securities broker, exchange, and clearing house, selling unregistered securities through its platform as well as its Prime and Wallet services. Alleges SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO tokens are securities, as well as Coinbase's staking program for XTZ, ATOM, ETH, ADA, and SOL.
2023.06.05 🟧 US 🟥 F 🟨 UEC 🟫 UBD 🟪 CP
SEC v. Binance Holdings Ltd., No. 1:23-cv-01599 (D.D.C. 2023.06.05) – Press Release
Action against Binance crypto exchange (both foreign and U.S. entities) and its founder Changpeng Zhao (CZ) for unregistered sales of securities, running an unregistered securities exchange / broker dealer / clearing house, and committing fraud in so doing. Alleges BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI tokens are securities, as well as Binance's BNB Vault, Simple Earn, and Staking-as-a-Service programs.
2023.04.17
🟫 UBD 🟨 UEC 🟪 CP
SEC v. Bittrex, Inc., No. 2:23-cv-00580 (W.D. Wash. 2023.04.17) – Press ReleaseSettlement (2023.08.10)
Action against Bittrex crypto exchange and its founder for operating as an unregistered exchange, broker, and clearinghouse, and for the sale of unregistered securities in the form of crypto assets OMG, DASH, ALGO, TKN, NGC, IHT. Settled for $24 million in fines and penalties.
2023.03.29 🟧 US 🟥 F 🟫 UBD 🟪 CP
SEC v. Beaxy Digital, Ltd., No. 1:23-cv-01962 (N.D. Ill. 2023.03.29)
Action against crypto exchange Beaxy for being an unregistered securities exchange and selling unregistered securities BXY and DRGN; misappropriation by one founder of at least $900,000; consent judgments entered against market makers on the exchange for market making in those tokens while being unregistered dealers.
2023.03.22 🟧 US 🟥 F 🟦 MM 🟩 AT
SEC v. Sun, No. 1:23-cv-02433 (S.D.N.Y. 2023.03.22) – Press Release
Action against Justin Sun and his companies for unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT); also includes charges for fraudulently manipulating the secondary market for TRX through extensive wash trading, and paying two celebrities — DeAndre Cortez Way (Soulja Boy) and Austin Mahone — to promote TRX without disclosing their compensation.
2023.03.22 🟩 AT
Six celebrities settled with the SEC related to their promotion of the TRX token without disclosing that they were paid promotions or the amounts of their compensation.
2023.03.03 🟧 US 🟥 F 🟫 UBD
SEC v. Green United, LLC, No. 2:23-cv-00159 (D. Utah 2023.03.03)
Fraudulent offering of unregistered securities that was purportedly a blockchain mining operation in a new token GREEN; no blockchain existed, no mining was performed.
2023.02.28 🟥 F
SEC v. Nishad Singh, No. 1:23-cv-01691 (S.D.N.Y. 2023.02.28) – Press Release
Fraud action against senior FTX executive for defrauding investors in FTX as well as its customers.
2023.02.23 🟥 F ⭕️ Other
SEC v. BKCoin Management, LLC, No. 1:23-cv-20719 (S.D. Fla. 2023.02.23) – Press Release
Fraud action against crypto investment fund; $100 million raised, but money was used to make Ponzi-like payments and to fund lavish personal lifestyles. The SEC obtained an injunction and asset freeze. Complaint also alleges violations of the Advisers Act.
2023.02.17 🟩 AT
In re Paul Anthony Pierce, No. 3-21305 (SEC Admin. Proc. 2023.02.17) – Press Release
Settled anti-touting charges against former NBA player related to EMAX token. $1.4 million fine.
2023.02.16 🟥 F 🟧 US 🟪 CP ⭕️ Other
SEC v. Terraform Labs PTE Ltd., No. 1:23-cv-01346 (S.D.N.Y. 2023.02.16) – Press ReleasePress Release (2023.04.13) – Ruling on Motion to Dismiss (2023.07.31)
Fraudulent offer and sale of unregistered securities, including algorithmic stablecoin UST, related coin LUNA, and other assets. Unregistered offer of security-based swaps and effecting transactions in security-based swaps with ineligible participants. Control person liability against founder Do Kwon.
2023.02.09 🟧 US
SEC v. Payward Ventures (d/b/a Kraken), No. 3:23-cv-00588 (N.D. Cal. 2023.02.09) – Press ReleaseDissenting Statement of Hester Peirce
Unregistered sale of "staking-as-a-service" securities whereby Kraken would pool user deposited crypto assets for staking, in exchange for returns of up to 20% or more. $30 million settlement entered without proceeding past complaint.
2023.01.20 🟥 F 🟦 MM
SEC v. Eisenberg, No. 1:23-cv-00503 (S.D.N.Y. 2023.01.20) – Press Release
Fraud and market manipulation of Mango Markets and its tokens in order to steal $116 million.
2023.01.19 🟧 US
In re Nexo Capital Inc., No. 3-21281 (SEC Admin. Proc. 2023.01.19) – Press Release
Unregistered offer and sale of the Nexo Earn Interest Product, an interest-bearing crypto asset account.
2023.01.12 🟧 US
SEC v. Genesis Global Capital, LLC, No. 1:23-cv-00287 (S.D.N.Y. 2023.01.12) – Press Release
Unregistered sale of securities in the form of the Gemini Earn crypto asset lending program.
2023.01.04 🟥 F 🟧 US
SEC v. Chandran, No. 2:23-cv-10017 (E.D. Mich. 2023.01.04) – Press Release
Unregistered offering fraud of "CoinDeal," raising $45 million.
2022.12.21 🟥 F
SEC v. Ellison, No. 1:22-cv-10794 (S.D.N.Y. 2022.12.21) – Press Release (2022.12.21) – Press Release (2023.01.19)
Fraud in offer/sale/purchase of FTX stock by Caroline Ellison and Gary Wang; alleges in detail that FTT was a crypto asset security. Consent judgments entered by both defendants.
2022.12.14 🟥 F 🟧 US
SEC v. Da Silva, No. 1:22-cv-10534 (S.D.N.Y. 2022.12.14) – Press Release
Fraudulent pyramid scheme, Forcount Trader Systems, targeting Spanish-speaking communities promising investors returns in a fake crypto asset trading and mining operation.
2022.12.13 🟥 F
SEC v. Bankman-Fried, No. 1:22-cv-10501-PKC (S.D.N.Y. 2022.12.13) – Press Release (2022.12.13) – Press Release (2023.01.19)
Fraud in offer/sale/purchase of FTX stock by Sam Bankman-Fried, founder of FTX, in part based on misleading statements re FTT token and risk strategy.
2022.11.18 ⭕️ Other
In re The Registration Statement of American CryptoFed DAO LLC, No. 3-21243 (SEC Admin. Proc. 2022.11.18) – Press ReleaseOrder Denying Motion to Dismiss (2023.06.07) (with dissents)
Order instituting public hearings regarding alleged omissions and misstatements in attempt to register two crypto asset securities.
2022.11.03 🟥 F 🟧 US 🟫 UBD
SEC v. Braga, No. 2:22-cv-01563 (W.D. Wash. 2022.11.03) – Press Release
"Trade Coin Club" ponzi scheme that raised more than 82,000 bitcoin, but diverted assets for personal purposes.
2022.11.03 🟥 F 🟧 US
SEC v. Rounsville, No. 3:22-cv-02458 (N.D. Tex. 2022.11.03) – Press Release
Fraudulent promotion of crypto asset trading program Arbitraging.co, which promised returns of up to 1% per day. Settled the same day it was filed for $207k disgorgement, officer-and-director bar.
2022.10.03 🟩 AT
In re Kimberly Kardashian, No. 3-21197 (SEC Admin. Proc. 2022.10.03) – Press Release
Anti-touting re EMAX tokens. $1.26M penalty through settlement.
2022.09.30 🟥 F
SEC v. Arbitrade Ltd., No. 1:22-cv-23171 (S.D. Fla. 2022.09.30) – Press Release
Pump-and-dump re DIG tokens.
2022.09.28 🟥 F 🟦 MM 🟧 US 🟪 CP 🟫 UBD
SEC v. The Hydrogen Technology Corp., No. 1:22-cv-08284 (S.D.N.Y 2022.09.28) – Press Release
Fraudulent, unregistered sale of Hydro tokens, market manipulation re same.
2022.09.19 🟥 F 🟧 US ⭕️ Other
SEC v. Chavez, No. 4:22-cv-03359 (S.D. Tex. 2022.09.19) – Press Release
Fraudulent sale of crypto investment services and Ponzi scheme, instead diverting client funds for personal purposes and other business ventures. Additional charges include violations of the Advisers Act.
2022.09.19 🟧 US
In re Sparkster, Ltd., No. 3-21103 (SEC Admin. Proc. 2022.09.19) – Press Release
Unregistered sale of SPRK tokens.
2022.09.19 🟩 AT
SEC v. Balina, No. 1:22-cv-950 (W.D. Tex. 2022.09.19)
Anti-touting re SPRK tokens. Jurisdiction based on Ethereum validator concentration in United States.
2022.09.15 🟥 F
SEC v. Edelman, No. 1:22-cv-07892 (S.D.N.Y. 2022.09.15)
Fraud enforcement re investment of funds in digital assets.
2022.09.14 🟥 F 🟧 US
SEC v. Chicago Crypto Capital LLC, No. 22-cv-2975 (N.D. Ill. 2022.09.14) – Press Release
Fraud enforcement re unregistered crypto asset securities offering.
2022.08.16 🟧 ICO
SEC v. Dragonchain, Inc., No. 2:22-cv-01145 (W.D. Wash. 2022.08.16) – Press Release
Unregistered offering of Dragon coin
2022.08.09 🟧 ICO
In re Bloom Protocol, LLC, No. 3-20952 (SEC Admin. Proc. 2022.08.09) – Press Release
Unregistered ICO related to an online identity attestation platform.
2022.08.01 🟥 F
SEC v. Okhotnikov, No. 1:22-cv-03978 (N.D. Ill. 2022.08.01) – Press Release
Ponzi/fraud enforcement against founders of Forsage.
2022.07.21 🟥 F
SEC v. Wahi, No. 2:22-cv-01009 (W.D. Wash. 2022.07.21) – Press Release
Insider trading charges against former Coinbase employee based on 25 tokens, 9 of which — AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM — are described as crypto asset securities.
2022.06.30 🟥 F
SEC v. Empires Consulting Corp., No. 1:22-cv-21995 (S.D. Fla. 2022.06.30)
Founders of EmpiresX misappropriated $40m raised from investors. Related CFTC and DOJ actions.
2022.04.28 🟧 US
SEC v. Chiang, No. 3:22-cv-0600 (TWE) (WVG) (S.D. Cal. 2022.04.28) – Press Release
NASGO sold SNP tokens as unregistered securities
2022.04.27 🟥 F 🟧 US
SEC v. Block Bits Capital, LLC, No. 3:22-cv-02563 (N.D. Cal. 2022.04.27) – Press Release
fraudulent/unregistered sale of securities; parallel criminal actions against founders
2022.04.27 🟥 F 🟧 US
SEC v. Mata, No. 3:22-cv-02565 (N.D. Cal. 2022.04.27)
(founder of Block Bits Capital)
2022.04.07 🟥 F 🟧 US 🟪 CP
SEC v. MCC International Corp., No. 2:22-cv-14129-KMM (S.D. Fla. 2022.04.07) – Press Release
Fraudulent sales of investment in crypto "mining packages" promising daily returns of 1%, paid in bitcoin. Instead investors received "Capital Coin" which could only be used on a fake trading platform.
2022.03.08 🟧 ICO / US
SEC v. Barksdale, No. 22-cv-1933 (S.D.N.Y. 2022.03.08) – Press Release
Unregistered ICO re Ormeus token
2022.02.14 🟧 US
In re BlockFi Lending, LLC, No. 3-20758 (SEC Admin. Proc. 2022.02.14) – Press Release
Unregistered sale of crypto lending product. $100M fine split between SEC and 32 states.
2022.01.18 🟥 F
SEC v. Garcia, No. 1:22-cv-00118 (D. Colo. 2022.01.18) – Press Release
Fraudulent sale of investment in Gold Hawgs Development Corp. for development of new cryptocurrency. Funds instead diverted for personal purposes.
2022.01.06 🟥 F 🟧 ICO
SEC v. Crowd Machine, Inc., No. 5:22-cv-0076 (N.D. Cal. 2022.01.06) – Press Release
Fraudulent use of ICO sales of CMCT token.
2021.12.02 🟥 F 🟧 ICO / US
SEC v. Auzins, No. 1:21-cv-6693 (E.D.N.Y. 2021.12.02) – Press Release
Unregistered and fraudulent ICOs re Denaro and Innovamine.
2021.11.18 🟥 F 🟧 US
SEC v. Ginster, No. 5:21-cv-01957 (C.D. Cal. 2021.11.18) – Press Release
Unregistered and fraudulent securities offering based on purported "cryptocurrency trading and advertising arbitrage." Ginster used funds for personal expenses.
2021.11.12 ⭕️ Other
Petition to compel responses to investigative subpoenas approved by trial court, affirmed on appeal to Second Circuit. Action objecting to service on Do Kwon voluntarily dismissed.
2021.11.10 ⭕️ Other
In re American CryptoFed DAO LLC, No. 3-20650 (SEC Admin. Proc. 2021.11.10)
Admin procedure re material deficiencies in attempted registration of crypto asset securities, Ducat token and Locke token.
2021.09.13 🟧 US
In re GTV Media Group Inc., No. 3-20537 (SEC Admin. Proc. 2021.09.13) – Press Release
Settlement regarding unregistered sale of both stock and tokens; GTV and individual executives to pay total fines/penalties/interest of $523.6 million.
2021.09.08 🟧 ICO / US
SEC v. Rivetz Corp., No. 3:21-cv-30092 (D. Mass. 2021.09.08) – Press Release
Unregistered sale of crypto asset security RvT token through pre-sale and ICO. Detailed allegations re why RvT was a security.
2021.09.01 🟥 F 🟧 US 🟫 UBD
SEC v. BitConnect, No. 1:21-cv-07349 (S.D.N.Y. 2021.09.01) – Press Release
Fraudulent, unregistered sale of securities in the form of BitConnect lending program that was really a Ponzi-scheme. Over $2 billion (based on 325,000 BTC value) raised through many commissioned, but undisclosed, agents. (See related case against promoters below.)
2021.08.09 ⭕️ Other
In re Poloniex, LLC, No. 3-20455, Release No. 92607 (SEC Admin. Proc. 2021.08.09) – Press Release
Unregistered digital asset security exchange; settlement totaled $10.3 million, including disgorgement, interest, and fine.
2021.08.06 🟥 F 🟧 US
In re Blockchain Credit Partners, No. 3-20453, Release Nos. 10961, 92588 (SEC Admin. Proc. 2021.08.06) – Press Release
Unregistered and fraudulent offering of securities through DeFi Money Market. Assets claimed to be backing interest earning tokens were never acquired by DMM.
2021.08.04 🟥 F 🟧 ICO
In re Uulala, Inc., No. 5:21-cv-01307 (C.D. Cal. 2021.08.04) – Press Release
Unregistered ICO of UULA tokens that included fraudulent representations about underlying payments technology.
2021.07.14 🟩 AT
In re Blotics, No. 3-20398 (SEC Admin. Proc. 2021.07.14) – Press Release
Coinschedule was paid by persons conducting ICOs to list the offerings on its website, but failed to disclose that fact. Separate statement by Commissioners Peirce and Roisman on failure of SEC to identify which listings were securities.
2021.07.09 🟥 F
SEC v. Watson, No. 1:21-cv-05923 (S.D.N.Y. 2021.07.09)
Insider trading charges based on disclosure of publicly traded Long Island Iced Tea Co.'s plans to change its name to Long Blockchain Corp.
2021.06.22 🟥 F 🟧 ICO
In re Loci, Inc., No. 3-20369 (SEC Admin. Proc. 2021.06.22) – Press Release
Fraudulent ICO of LOCIcoin based on misrepresentations about Loci's business.
2021.06.15 🟥 F 🟧 ICO
SEC v. Hamid, No. 2:21-cv-12542 (D.N.J. 2021.06.15) – Press Release
Additional action re fraudulent ICO of BCT Tokens, purportedly to develop tech for hedge funds, against additional participants.
2021.06.11 🟥 F 🟧 US
SEC v. Radjabli, No. 2:21-cv-01761 (D.S.C. 2021.06.11) – Press Release
Many frauds, including an offering of Apis Tokens, purportedly representing tokenized interests in Apis Capital's main investment fund.
2021.05.28 🟧 US 🟫 UBD
SEC v. Brown, No. 1:21-cv-04791-JGK (S.D.N.Y. 2021.05.28) – Press Release
(BitConnect promoters, see above at 2021.09.01)
2021.03.29 🟧 US
SEC v. LBRY, Inc., No. 1:21-cv-00260 (D.N.H. 2021.03.29) – Press Release
Unregistered sale of LBRY tokens. Court granted MSJ in SEC's favor concluding tokens were securities on Nov. 7, 2022. (Opinion on CaseText, CourtListener)
2021.03.05 🟥 F 🟧 US
SEC v. Cutting, No. 2:21-cv-00103-BLW (D. Idaho 2021.03.05) – Press Release
Fraudulent fundraising purportedly to invest in digital assets, instead misappropriating assets.
2021.02.19 ⭕️ Other
In re Long Blockchain Corp., No. 3-20228 (SEC Admin. Proc. 2021.02.19)
Revocation of company's securities for failure to file quarterly and annual reports.
2021.02.17 🟧 US
SEC v. Coinseed, No. 1:21-cv-01381 (S.D.N.Y. 2021.02.17) – Press Release
Unregistered sale of CSD tokens.
2021.02.01 🟥 F 🟧 US 🟫 UBD
SEC v. Krstic, No. 1:21-cv-00529 (E.D.N.Y. 2021.02.01) – Press Release
Fraudulent ICO of B2G tokens, misappropriating millions of retail investor funds.
2021.01.15 🟥 F 🟧 US
In re Wireline, Inc., No. 3-20206 (SEC Admin. Proc. 2021.01.15) – Press Release
Fraudulent, unregistered sale of SAFTs regarding tokens that were never released for a platform that never launched.
2020.12.23 🟧 US
In re Tierion, Inc., No. 3-20188 (SEC Admin. Proc. 2020.12.23) – Press Release
Unregistered sale of TNT coins for the Tierion Network for blockchain receipts.
2020.12.22 🟥 F
SEC v. Qin, No. 1:20-cv-10849-LGS (S.D.N.Y. 2020.12.22) – Press Release
Ponzi scheme by purported algorithmic cryptocurrency arbitrage investment platform.
2020.12.22 🟧 US
SEC v. Ripple Labs, Inc., No. 1:20-cv-10832-AT-SN (S.D.N.Y. 2020.12.22) – Press ReleaseRuling on MSJ (2023.07.13)
Unregistered sale of XRP tokens from 2013 through the present.
2020.12.21 🟧 ICO
In re ShipChain, Inc., No. 3-20185 (SEC Admin. Proc. 2020.12.21)
Unregistered ICO of SHIP tokens to develop a blockchain platform related to shipping and logistics.
2020.12.09 🟥 F 🟧 ICO
SEC v. Elmaani, No. 1:20-cv-10376 (S.D.N.Y. 2020.12.09) – Press Release
Unregistered sale of Pearl tokens in connection with Oyster Protocol, while also covertly minting a secret supply that Elmaani sold into the market.
2020.10.05 🟩 AT 🟥 F
SEC v. McAfee, No. 1:20-cv-08281 (S.D.N.Y. 2020.10.05) – Press ReleaseSettled as to defendant Jimmy Gale Watson on July 14, 2022.
Fraudulently touting 7 (unidentified) ICOs without disclosing promotional status, and also fraudulently scalping holdings from the same ICOs.
2020.09.30 🟧 ICO
In re Salt Blockchain Inc., No. 3-20106 (SEC Admin. Proc. 2020.09.30) – Press Release
Unregistered ICO of Salt Tokens to develop a dollar-denominated loan business secured by blockchain assets.
2020.09.25 🟥 F 🟧 ICO
In re SoluTech, Inc., No. 3-20071 (SEC Admin. Proc. 2020.09.25) – Press Release
Fraudulent ICO of SCRL digital assets to fund blockchain-based platform called the Scroll Network, misrepresenting current revenues and SoluTech product capabilities.
2020.09.15 🟧 ICO
In re Unikrn, Inc., No. 3-20003 (SEC Admin. Proc. 2020.09.15) – Press Release
Unregistered ICO of UnikoinGold token to enhance features on a gaming platform and secondary trading market. $6.1 million disgorgement.
2020.09.10 🟥 F 🟧 ICO 🟦 MM
SEC v. FLiK, No. 1:20-cv-03739 (N.D. Ga. 2020.09.10) – Press Release
Fraudulent, unregistered ICO. Funds were misappropriated to purchase luxury goods and real estate for personal use.
2020.08.18 🟫 UBD
SEC v. Millan, No. 1:20-cv-06575 (S.D.N.Y. 2020.08.18) – Press Release
Unregistered broker-dealing in AirBit, a pyramid scheme to purportedly achieve high returns through algorithmic digital asset day-trading by robots.
2020.08.13 🟧 ICO
In re Kelvin Boon, LLC, No. 3-19913 (SEC Admin. Proc. 2020.08.13) – Press Release
Unregistered ICO of Boon Coins to develop a software platform to connect employers with freelancers.
2020.07.13 ⭕️ Other
In re Plutus Financial Inc., No. 3-19873 (SEC Admin. Proc. 2020.07.13)
Sale of securities-based swaps to ineligible participants, in violation of Securities Act § 5(e), and effecting transactions in those swaps outside of registered exchanges in violation of Exchange Act § 6(l).
2020.06.25 🟥 F 🟧 ICO
SEC v. NAC Foundation, LLC, No. 3:20-cv-04188 (N.D. Cal. 2020.06.25) – Press Release
Fraudulent, unregistered ICO of "AML BitCoin," a purportedly compliant-focused token, when it had not developed this technology; founders misappropriated funds for personal use.
2020.06.25 🟥 F 🟧 ICO
SEC v. Abramoff, No. 3:20-cv-04190 (N.D. Cal. 2020.06.25) - Related admin. proceeding.
Personal action against promoter of NAC Foundation, LLC's scheme, above.
2020.06.16 🟥 F
SEC v. Hvizdzak Capital Management, LLC, No. 1:20-cv-00154 (W.D. Pa. 2020.06.16) – Press Release
Fraudulent offering of securities in crypto investment fund by misrepresenting fund performance, forging financial statements and audit documents.
2020.05.28 🟧 ICO
In re BitClave PTE Ltd., No. 3-19816 (SEC Admin. Proc. 2020.05.28) – Press Release
Unregistered ICO of CAT tokens to fund blockchain-based search platform for targeted consumer advertising.
2020.05.07 🟥 F 🟧 US
SEC v. Putnam, No. 2:20-cv-00301 (D. Utah 2020.05.07) – Press Release
Fraudulent offering of securities in purported crypto mining operation, crypto trading packages, and misappropriation of funds.
2020.04.23 🟥 F 🟧 ICO
SEC v. Dropil Inc., No. 8:20-cv-00793 (C.D. Cal. 2020.04.23) – Press Release
Fraudulent, unregistered sales of DROP tokens. None of the promoted, underlying technology ever existed. Founders took funds for personal use.
2020.03.16 🟥 F 🟧 ICO
SEC v. Meta 1 Coin Trust, No. 1:20-cv-00273 (W.D. Tex. 2020.03.16) – Press Release
Injunction to stop promoters of fraudulent ICO in Meta 1 Coin, which was backed by nothing.
2020.02.27 🟩 AT
In re Seagal, No. 3-19712 (SEC Admin. Proc. 2020.02.27) – Press Release
Anti-touting action against actor Steven Seagal re B2G coin ICO.
2020.02.19 🟧 ICO
In re Enigma MPC, No. 3-19702 (SEC Admin. Proc. 2020.02.19) – Press Release
Unregistered ICO of the ENG Tokens promising to use funds to develop a digital asset trade-testing platform and crypto data marketplace.
2020.02.11 🟥 F
SEC v. Ackerman, No. 1:20-cv-01181 (S.D.N.Y. 2020.02.11) – Press Release
Fraudulent offering of pooled investment in cryptocurrencies, run as a Ponzi scheme.
2020.01.21 🟥 F 🟧 ICO
SEC v. Grybniak, No. 1:20-cv-00327 (E.D.N.Y. 2020.01.21) – Press Release
Fraudulent ICO of OPP Tokens through misrepresentations about the business and tech, targeting small businesses.
2020.01.17 🟥 F 🟧 ICO
SEC v. Manor, No. 2:20-cv-00597-SRC-CLW (D.N.J. 2020.01.17) – Press Release
Fraudulent ICO of BCT Tokens, purportedly to develop tech for hedge funds.
2019.12.18 🟧 US
In re Blockchain of Things, Inc., No. 3-19621 (SEC Admin. Proc. 2019.12.18) – Press Release
Unregistered sale of BCOT tokens.
2019.12.11 🟥 F 🟧 ICO
SEC v. Eyal, No. 1:19-cv-11325 (S.D.N.Y. 2019.12.11) – Press Release
Fraudulent, unregistered offering of Shopin tokens for purported creation of blockchain-based "universal shopper profile."
2019.10.31 ⭕️ Other 🟫 UBD
In re XBT Corp Sarl, No. 3-19592 (SEC Admin. Proc. 2019.31)
Unregistered purchase and sale of security-based swaps, including purchases made with bitcoin, in violation of Securities Act § 5(e), and effecting transactions in those swaps outside of registered exchanges in violation of Exchange Act § 6(l).
2019.10.11 🟧 ICO
SEC v. Telegram Group, Inc., No. 1:19-cv-09439 (S.D.N.Y. 2019.10.11) – Press Release – Preliminary Injunction granted at SEC v. Telegram Group, Inc., 448 F. Supp. 3d 352 (S.D.N.Y. 2020).
Preliminary injunction to prevent $1.7 billion token distribution. Settled for $1.2 billion return to investors and $18.5 million civil penalty.
2019.09.30 🟧 US
In re Nebulous, Inc., No. 3-19569 (SEC Admin. Proc. 2019.09.30)
Unregistered sale of "Siastock" and "SiaNotes" to support development of a decentralized cloud data storage technology.
2019.09.30 🟧 ICO
In re Block.one, No. 3-19568 (SEC Admin. Proc. 2019.09.30) – Press Release
Unregistered ICO to support development of EOSIO software, an operating system designed to support public or private blockchains. $24M penalty.
2019.09.20 🟥 F 🟧 ICO
SEC v. Lucas, No. 1:19-cv-08771 (S.D.N.Y. 2019.09.20) – Press Release
Fraudulent ICO of FM tokens, purportedly for an adult entertainment "fantasy marketplace."
2019.09.18 🟧 ICO 🟫 UBD
SEC v. ICOBox, No. 2:19-cv-08066 (C.D. Cal. 2019.09.18) – Press Release
Unregistered ICO of ICOS tokens to provide services to digital asset startups that could not afford them; unregistered broker-dealer activities for its clients' tokens.
2019.08.29 🟥 F 🟧 ICO
SEC v. Bitqyck, Inc., No. 3:19-cv-02059 (N.D. Tex. 2019.08.29) – Press Release
Fraudulent, unregistered offering of Bitqy and BitqyM tokens.
2019.08.20 🟩 AT
In re ICO Rating, No. 3-19366 (SEC Admin. Proc. 2019.08.20) – Press Release
ICO Rating purported to provide neutral evaluations of ICOs but in fact received, but failed to disclose, compensation as a promoter.
2019.08.12 🟧 US
In re SimplyVital Health, Inc., No. 3-19332 (SEC Admin. Proc. 2019.08.12) – Press Release
Unregistered sale of securities to support development of Health Nexus, a blockchain protocol through which healthcare providers could share patient data.
2019.08.12 🟥 F 🟧 ICO
SEC v. Middleton, No. 1:19-cv-04625-WFK-RER (E.D.N.Y. 2019.08.12) – Press Release
Emergency injunction action to stop dissipation of proceeds of fraudulent ICO of VERI Tokens. Court granted the injunction and the case settled.
2019.06.05 🟥 F
SEC v. Longfin Corp., No. 1:19-cv-05296 (S.D.N.Y. 2019.06.05) – Press Release
Fraudulent pump-and-dump scheme effected by announcing acquisition of a sham cryptocurrency company, Ziddu.com.
2019.06.04 🟧 ICO
SEC v. Kik Interactive Inc., No. 1:19-cv-05244 (S.D.N.Y. 2019.06.04) – Press Release – Summary judgment granted at SEC v. Kik Interactive Inc., 492 F. Supp. 3d 169 (S.D.N.Y. 2020)
Unregistered sales of Kin tokens, raising $100 million. Sales proceeds to be used to fund development of goods and services marketplace by Kik, an otherwise failing mobile messaging application. SEC prevails on summary judgment. The final judgment imposes restrictions on Kik's reserve allocation of tokens and includes a $5 million fine.
2019.05.22 🟥 F 🟧 US
SEC v. Pacheco, No. 5:19-cv-00958-MWF-AFM (C.D. Cal. 2019.05.22) – Press Release
Fraudulent MLM pyramid scheme, in which investors were promised ability to convert recruitment points into the "PRO Currency," a cryptocurrency purportedly to be used in a new ecosystem of e-commerce transactions. Proceeds of sales misappropriated for personal use.
2019.05.14 🟥 F
In re NextBlock Global Ltd., No. 3-19164 (SEC Admin. Proc. 2019.05.14) – Press Release
Fraudulent sale of convertible debentures in crypto investment company; misrepresentations about advisors to the company.
2019.05.13 🟥 F 🟧 US
SEC v. Natural Diamonds Investment Co., No. 9:19-cv-80633 (S.D. Fla. 2019.05.13) – Press Release
Among other frauds, fraudulent, unregistered offering of Argyle Coin, a cryptocurrency purportedly backed by fancy diamonds.
2019.04.29 ⭕️ Other
In re Bitcoin Generation, Inc., Release No. 85739 (Exchange Act 2019.04.29)
Trading halted in BTGN based on concerns about accuracy and adequacy of disclosures.
2019.04.01 🟥 F 🟧 US
In re Mutual Coin Fund LLC, No. 3-19127 (SEC Admin. Proc. 2019.04.01) –
Unregistered sale of digital asset investment fund, including misrepresentations about the amount of money raised and the size of other investors' positions.
2019.02.20 🟧 ICO
In re Gladius Network LLC, No. 3-19004 (SEC Admin. Proc. 2019.02.20) – Press Release
Unregistered offer and sale of GLA tokens for use in a network of cybersecurity services. Due to self-reporting and remedial measures, no penalty imposed.
2018.12.07 🟧 US
In re CoinAlpha Advisors LLC, No. 3-18913 (SEC Admin. Proc. 2018.12.07)
Unregistered sale of investment fund focused on digital assets.
2018.11.29 🟩 AT
In re Floyd Mayweather, Jr., No. 3-18906 (SEC Admin. Proc. 2018.11.29) – Press Release
Undisclosed payments received in exchange for promoting ICOs.
2018.11.29 🟩 AT
In re Khaled Khaled (DJ Khaled), No. 3-18907 (SEC Admin. Proc. 2018.11.29) – Press Release
Undisclosed payments received in exchange for promoting ICOs.
2018.11.16 🟧 ICO
In re Paragon Coin, Inc., No. 3-18897 (SEC Admin. Proc. 2018.11.16) – Press Release
Unregistered ICO of PRG tokens to implement Paragon's business plan to add blockchain technology to the cannabis industry and work towards legalization of cannabis.
2018.11.16 🟧 ICO
In re CarrierEQ, Inc., No. 3-18898 (SEC Admin. Proc. 2018.11.16) Press Release
Unregistered ICO of AirTokens to fund development of blockchain-based system for prepaid mobile phone users to earn free or discounted airtime or data by interacting with ads.
2018.11.08 ⭕️ = Other
In re Zachary Coburn, No. 3-18888 (SEC Admin. Proc. 2018.11.08) – Press Release
Enforcement against creator of EtherDelta, a ERC20 and ETH exchange, for failing to register the exchange. $300k disgorgement, $75k penalty.
2018.10.05 🟥 F ⭕️ = Other
SEC v. Saint James Holding and Investment Company Trust, No. 2:18-mc-00135-SJO-AS (C.D. Cal. 2018.10.05)
Application for order compelling responses to SEC investigation into fraudulent pump-and-dump scheme related to announcement of $100 million in financing obtained to fund an ICO.
2018.10.03 🟥 F 🟧 US
SEC v. Blockvest, LLC, No. 3:18-cv-02287 (S.D. Cal. 2018.10.03) – Press Release
Emergency injunction action to stop anregistered, fraudulent ICO purporting to be the "first [U.S.] licensed and regulated tokenized crypto currency exchange and index fund."
2018.09.27 🟫 UBD ⭕️ = Other
SEC v. 1Pool Ltd., No. 1:18-cv-02244 (D.D.C. 2018.09.27) – Press Release
Unregistered sales of securities swaps only buyable using bitcoin.
2018.09.11 🟧 ICO ⭕️ = Other
In re Crypto Asset Management, LP, No. 3-18740 (SEC Admin. Proc. 2018.09.11) – Press Release
Unregistered sales of securities in the form of a digital asset investment fund; violations of the Investment Company Act.
2018.09.11 🟫 UBD 🟧 US
In re TokenLot, LLC, No. 3-18739 (SEC Admin. Proc. 2018.09.11) – Press Release
SEC’s first case charging unregistered broker-dealers for selling digital tokens after the SEC issued The DAO Report in 2017 cautioning that those who offer and sell digital securities must comply with the federal securities laws.
2018.08.14 🟥 F 🟧 ICO
In re Tomahawk Exploration, LLC, No. 3-18641 (SEC Admin. Proc. 2018.08.14) – Press Release
Fraudulent, unregistered ICO of TOM coins purportedly related to an oil and gas drilling venture.
2018.05.22 🟥 F 🟧 ICO
SEC v. Titanium Blockchain Infrastructure Servs. Inc., No. 2:18-cv-04315 (C.D. Cal. 2018.05.22) – Press Release
Emergency injunction action to freeze $20+ million of proceeds in fraudulent ICO of BAR tokens; misrepresentations on backers and intellectual property, among others.
2018.04.04 ⭕️ = Other
SEC. v. Longfin Corp., No. 1:18-cv-02977-DLC (S.D.N.Y. 2018.04.04) – Press Release 1, 2
Emergency action to freeze $27 million in proceeds of pump-and-dump scheme based on purchase of a sham blockchain microfinance company Ziddu.com.
2018.04.02 🟥 F 🟧 ICO
SEC v. Sharma, No. 1:18-cv-02909 (S.D.N.Y. 2018.04.02) – Press Release 1, 2
Fraudulent, unregistered ICO of Center Tokens (CTR) based on misrepresentations about fictitious executives and relationships with Visa, Mastercard, and Bancorp.
2018.02.21 🟥 F 🟧 US 🟪 CP ⭕️ = Other
SEC v. Montroll, No. 1:18-cv-01582 (S.D.N.Y. 2018.02.21) – Press Release