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SEC Accuses VBit Founder of Misusing $48M in Alleged Bitcoin Mining Scam
The U.S. Securities and Exchange Commission has charged Danh C. Vo, founder and CEO of bitcoin mining company VBit, alleging that he misappropriated $48.5 million from investors and misled them about how the mining business worked. According to a complaint filed in the U.S. District Court for the District of Delaware, Vo and VBit Technologies Corp. raised more than $95.6 million from about 6,400 investors. The SEC said Vo told investors that VBit offered “a turnkey solution for average people to start making a passive income stream through Bitcoin mining without all the headaches of operating the machines.” ... (full story)
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