{"id":35710,"date":"2021-02-02T10:58:55","date_gmt":"2021-02-02T08:58:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35710"},"modified":"2025-08-29T02:38:22","modified_gmt":"2025-08-28T23:38:22","slug":"investors-lose-11-4-million-in-bitcoiin2gen-token-sale-tied-to-steven-seagal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/investors-lose-11-4-million-in-bitcoiin2gen-token-sale-tied-to-steven-seagal\/","title":{"rendered":"Investors lose $11.4 million in Bitcoiin2Gen token sale tied to Steven Seagal"},"content":{"rendered":"<p>SEC <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2021-22\" target=\"_blank\" rel=\"noopener noreferrer\">charged<\/a> three partners of the cryptocurrency startup Bitcoiin2Gen with fraud totaling $11.4 million in connection with an ICO involving Hollywood actor Steven Seagal.<!--more--><\/p>\n<p>According to the SEC, from December 2017 to May 2018, Bitcoiin2Gen founder Kristian Krstic, Start Options promoter John De Marr, and partner Robin Enos offered investors &#8216;digital assets B2G with the properties of securities.&#8217; The complaint was filed in the U.S. District Court for the Eastern District.<\/p>\n<blockquote>\n<p>&#8220;The actions of the defendants were a crude attempt to mislead those interested in digital technologies. The partners must be held to account. The startups were fraudulent and aimed to misappropriate investors&#8217; funds,&#8221; said Christina Littman, head of the SEC&#8217;s Cybercrime Division.<\/p>\n<\/blockquote>\n<p>Bitcoiin2Gen billed itself as a &#8216;second-generation cryptocurrency,&#8217; but bore many similarities to a pyramid scheme. In particular, the project featured a multi-level referral system with substantial affiliate rewards.<\/p>\n<p>In February 2018, actor Steven Seagal became a brand ambassador for Bitcoiin2Gen and actively promoted the ICO campaign on social media.<\/p>\n<p>The startup raised $75 million. In early March 2018, the New Jersey Bureau of Securities halted the Bitcoiin2Gen project&#8217;s ICO to protect investors from potential fraud.<\/p>\n<p>Earlier in February 2020, the SEC fined Seagal for concealing the compensation he received for promoting the startup&#8217;s token sale and banned the actor from promoting securities for three years.<\/p>\n<p>Subscribe to ForkLog&#8217;s Telegram news: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) charged three partners of the cryptocurrency startup Bitcoiin2Gen with fraud totaling $11.4 million in connection with the ICO involving Hollywood actor Steven Seagal.<\/p>\n","protected":false},"author":1,"featured_media":35711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[319,128],"class_list":["post-35710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ico","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35710"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35710\/revisions"}],"predecessor-version":[{"id":35712,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35710\/revisions\/35712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35711"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}