The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Mining Automatic and its founder over an alleged $22 million crypto mining scheme.
$22 million
total amount raised from investors in the alleged scheme
According to the SEC, the scheme promised guaranteed returns on crypto mining investments, but only a fraction of the funds were used for actual mining operations.
380+ investors
number of investors involved in the alleged scheme, according to the SEC
The SEC's lawsuit alleges that the scheme involved more than 380 investors.
