Token

Million

&nbsp;The <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a> has <a href="https://www.sec.gov/news/press-release/2023-146" rel="noopener noreferrer nofollow">frozen</a> assets of Utah-based DEBT Box, charging them with a $50 million <a href="https://ultramining.com/news/en/marathon-digital-sounds-alarm-on-widespread-crypto-scam-involving-fake-stock-certificates/" rel="noopener noreferrer nofollow">crypto fraud</a> scheme. The company, also known as Digital Licensing Inc., allegedly sold unregistered securities since March 2021, referred to as "node licenses." 
DEBT Box claimed its software mining licenses would begin mining after activation. It promised daily rewards through various industry-linked projects. But according to the <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a>, these claims were false, and the node licenses were a sham. 
The company's four principals and 13 others face enforcement action. The <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a> alleges they lied about every material aspect of their unregistered securities, including engagement in crypto mining. 
The action by the <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a> has resulted in a 52% drop in the company's native token, DEBT.&nbsp; 
The <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a> seeks permanent injunctions, the return of illicit gains, and civil penalties. The investigation highlights the increasing scrutiny of crypto asset securities and emphasizes the need for investor caution. 
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SEC Cracks Down on DEBT Box in $50 Million Crypto Scam; Token Price Plunges 52%

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