Pollen Mobile Sued for Distributing ‘Useless’ Crypto Tokens

Pollen Mobile LLC, which allows individuals to create their own decentralized wireless networks, paid their providers with unregistered proprietary crypto tokens, a suit says.

The tokens, called Pollen Coins, were allegedly “minted from thin air” and later sold to investors for cash, but had no value without selling large quantities of data to the public, according to the complaint filed Wednesday in US District Court for the Northern District of California.

In January, however, Pollen abandoned its original plan for circulating the tokens on a secondary market with variable pricing, citing concerns about the regulatory environment for “token-only projects” ...