SEC Charges Bitcoin Miner for Duping Investors Out of $48.5 Million
SEC Charges Bitcoin Miner for Duping Investors Out of $48.5 Million Published: 2025-12-18 | Read: ~2 min | Category: Crypto SEC Charges Bitcoin Miner for Duping Investors Out of $48.5 Million A solo bitcoin miner was charged by the SEC for misappropriating $48.5 million from investors by selling bogus mining hosting agreements that promised passive income. Caption for the image The U.S. Securities and Exchange Commission has charged the founder and CEO of a bitcoin mining company with defrauding investors out of $48.5 million. According to the SEC, he misused the funds for gambling, cryptocurrency purchases, and gifts to family members while misleading investors about the operations of his business. The complaint, filed in the U.S. District Court for the District of Delaware, alleges that he raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022. He sold "hosting agreements," which promised investors a share of profits from bitcoi...
