The SEC charged Draper, Utah-based DEBT Box, as well as the company’s four principals and 13 other defendants, with operating a scheme that began in March 2021 to sell unregistered securities called “node licenses.” Defendants told investors that the licenses would mine cryptocurrency that would increase in value, when in reality, defendants were creating the crypto instantaneously using code on a blockchain, according to the SEC.
SEC Charges Utah-Based DEBT Box, Other Defendants With $50M Crypto Fraud Scheme
