SEC Accuses Shopin of $42 Million ICO Fraud
Specialists from the US Securities and Exchange Commission called the creators of Shopin fraudsters and accused them of stealing $42 million. According to SEC materials, Shopin distributed non-registered tokens, which is contrary to US law. Besides, the startup was supposed to create a blockchain platform for storing and tracking profiles of online customers. According to SEC employees, the company has never engaged in the development of such a product. The Securities and Exchange Commission asks the court to force Shopin to pay all the necessary fines and deprive the head of the company of his right to serve as an official for any cryptocurrency and securities offer.