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SEC Sues Green United for Fraudulent Cryptocurrency Investment Scheme

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It is reported that the United States Securities and Exchange Commission (SEC) has filed a lawsuit against Green United, accusing the Utah based company of vio…

SEC Sues Green United for Fraudulent Cryptocurrency Investment Scheme

It is reported that the United States Securities and Exchange Commission (SEC) has filed a lawsuit against Green United, accusing the Utah based company of violating the federal securities law by selling counterfeit encryption mining equipment worth $18 million. According to the SEC’s complaint, Green United and its founder, Wright Thurston, as well as its main promoter, Kristoffer Krohn, provided investors with a “green box” investment of $3000, which is a cryptocurrency excavator specially used to mine GREEN tokens on Green Blockchain. It is said that investors were told that the mined GREEN tokens support the “global public decentralized power grid” and generate a significant return of 40% to 50% per month.

US SEC filed a lawsuit against Green United

Analysis based on this information:


The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Green United, a Utah-based company, for selling counterfeit encryption mining equipment valued at $18 million. The lawsuit alleges that the company violated the federal securities law by providing investors with a fraudulent cryptocurrency investment scheme.

The complaint filed by the SEC claims that Green United and its founder, Wright Thurston, along with its promoter, Kristoffer Krohn, offered an investment opportunity to investors by selling them a “green box” used to mine GREEN tokens on the Green Blockchain. The investors were told that the GREEN tokens they mined supported the “global public decentralized power grid” and would generate returns of 40% to 50% per month.

However, the SEC alleges that Green United and its founders made false and misleading statements to investors about the potential returns on their investment, as well as the reliability and profitability of the mining equipment. Additionally, the SEC claims that the equipment purchased by investors was counterfeit and unable to mine any cryptocurrency.

This lawsuit highlights the risks associated with investing in cryptocurrency, particularly those that promise high returns in a short amount of time. Investors must exercise caution and conduct thorough research before investing in any cryptocurrency or related products.

Overall, this case emphasizes the importance of following the federal securities law and conducting business practices with transparency and honesty to ensure the protection of investors. The SEC’s efforts in pursuing companies that engage in fraudulent activities are crucial in maintaining the integrity of the cryptocurrency market and other financial sectors.

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