Utah Judge Rules SEC’s Case Against Alleged Crypto Mining Scam Green United Can Proceed to Trial
Green United, founded by Will Thurston, is under scrutiny for allegedly misusing investor funds. Thurston, along with promoter Kristoffer Krohn, is facing a lawsuit for using the money meant for Green Boxes to purchase S9 Antminers, bitcoin mining machines. Instead of sharing the mined bitcoin with investors, Thurston distributed worthless GREEN tokens on the Ethereum blockchain.
The Securities and Exchange Commission (SEC) claims that investors did not receive any actual bitcoin from their investments, raising concerns about the legitimacy of Green United’s operations. The lawsuit highlights the risks associated with investing in cryptocurrency schemes that promise high returns but fail to deliver.
Investors should exercise caution and conduct thorough due diligence before participating in any investment opportunity, especially in the rapidly evolving world of digital assets. It is essential to verify the legitimacy of the projects and individuals involved to protect against potential scams and fraudulent activities.
