{"id":75183,"date":"2023-03-07T19:30:04","date_gmt":"2023-03-07T17:30:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75183"},"modified":"2025-09-10T10:12:45","modified_gmt":"2025-09-10T07:12:45","slug":"sec-charges-green-united-a-seller-of-mining-hardware-with-18-million-fraud","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-charges-green-united-a-seller-of-mining-hardware-with-18-million-fraud\/","title":{"rendered":"SEC charges Green United, a seller of mining hardware, with $18 million fraud"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has charged Green United, a manufacturer of cryptocurrency mining equipment, with violations of federal law and fraud amounting to $18 million. The regulator has already filed the corresponding <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.utd.138270\/gov.uscourts.utd.138270.1.0.pdf\">\u0438\u0441\u043a<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>According to the complaint, the company&#8217;s founder Rait Terston and chief promoter Christopher Cron sold Antminer S9 devices marketed as \u201cGreen Boxes\u201d \u2014 specialized equipment for mining \u201ceco-friendly\u201d GREEN tokens, which were, in fact, counterfeits.<\/p>\n<p>The defendants promised investors monthly returns of 40-50%. It was expected that the miners would be installed at Green United&#8217;s data centre themselves.<\/p>\n<p>According to the SEC, Terston created fake tokens on the Ethereum blockchain and distributed them across investors&#8217; wallets over several months after he and Cron began operations in April 2018.<\/p>\n<p>The asset itself never appreciated in value, and the coins could not be sold until autumn 2020. The token&#8217;s current price stands at $0.004, versus the $0.02 promised to investors.<\/p>\n<p>The regulator contends that the scheme&#8217;s organisers misled users into using the purchased miners to mine bitcoins. Investors themselves did not receive any income.\u00a0<\/p>\n<p>The authorities intend to secure court-imposed restrictions on Green United, and to compel the alleged scammers to pay fines and damages.\u00a0<\/p>\n<p>As reported in November 2022, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-charges-trade-coin-club-organisers-over-295-million-fraud\">brought charges<\/a> against four organizers of the crypto pyramid Trade Coin Club. They are suspected of fraud totaling $295 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission has charged Green United, a manufacturer of cryptocurrency mining equipment, with violations of federal law and fraud totaling $18 million.<\/p>\n","protected":false},"author":1,"featured_media":75184,"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":[1137,1246],"class_list":["post-75183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75183","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=75183"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75183\/revisions"}],"predecessor-version":[{"id":75185,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75183\/revisions\/75185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75184"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}