{"id":134615,"date":"2024-08-01T11:00:10","date_gmt":"2024-08-01T08:00:10","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134615"},"modified":"2024-08-01T02:51:37","modified_gmt":"2024-07-31T23:51:37","slug":"crypto-exchange-founder-sued-for-massive-fraud","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-exchange-founder-sued-for-massive-fraud\/","title":{"rendered":"Crypto Exchange Founder Sued For Massive Fraud"},"content":{"rendered":"

The SEC’s lawsuit<\/a><\/strong> targets BTCLT, the token associated with BitClout, claiming it was marketed as an investment security without proper registration.<\/p>\n

Al-Naji purportedly described BTCLT as comparable to stock ownership in the platform, suggesting significant potential returns for early investors.<\/p>\n

Al-Naji allegedly sought to mislead regulators by creating a false impression of decentralization and even tried to obtain a legal opinion to falsely claim BitClout was not a securities offering.<\/p>\n