The Securities and Exchange Commission had sued the firm, founder Dominic Lacroix and his partner for allegedly offering PlexCoin online to investors in the U.S. with promises of a 13-fold return in under a month.
Charges against PlexCoin were the first filed by the SEC’s Cyber Unit, which was created in September 2017 to focus on online misconduct involving distributed-ledger technology, called blockchain, and initial coin offerings.
The SEC obtained an emergency asset freeze to stop offering in December 2017.
Defendants agreed to pay $4.56 million plus more than $348,000 in interest as part of settlement, which must be approved ...
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