United States:
SEC Cyber Unit Targets PlexCoin
12 December 2017
Proskauer Rose LLP
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On December 4, the SEC's new Cyber Unit announced it
obtained an emergency asset freeze to halt the initial coin
offering ("ICO") of PlexCoin. According to the SEC, the
Plexcoin ICO had raised up to $15 million to date through the
fraudulent sale of unregistered securities.
This is the first-ever enforcement action by the SEC's Cyber
Unit, which was created in September with the purpose of
prosecuting cyber-related misconduct, including violations
involving ICOs.
Read the full SEC complaint here.
SEC Cyber Unit Targets PlexCoin
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