SEC sues Mining Automatic and CEO over $22 million crypto mining scheme

AI Summary The U.S. SEC has sued crypto mining firm Mining Automatic and its owner Zan Shaikh for allegedly collecting more than $22 million from over 380 investors for the purpose of mining, while spending only a fraction of it on actual crypto mining. The case, filed in federal court in Massachusetts, is a warning to anyone... fulltext: 319 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.cryptopolitan.com/sec-sues-mining-automatic-22-million-fraud/ Source: CryptoPolitan