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SEC targets Mining Automatic over alleged $22M crypto mining fraud – TON BOT

SEC targets Mining Automatic over alleged $22M crypto mining fraud

The U.S. Securities and Exchange Commission has sued Mining Automatic and its owner, Zan Shaikh, for allegedly raising $22 million from over 380 investors through a fraudulent crypto mining operation. The SEC alleges that only 13% of investor funds were used for the claimed mining operation, with the rest spent on marketing and personal expenses.


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