Bitqyck (Bitqy / BitqyM)
A Dallas-based operation that sold the Bitqy and BitqyM tokens. The SEC said founders Bruce Bise and Samuel Mendez defrauded over 13,000 investors in unregistered offerings; the DOJ said the venture raised ~$24M. Both pleaded guilty to tax evasion and received 50-month prison terms.
Also known as: Bitqyck, Bitqy, BitqyM, Bruce Bise, Samuel Mendez
Summary
Bitqyck, founded by Bruce Bise and Samuel Mendez, marketed two digital tokens — Bitqy and BitqyM — beginning in 2016. The SEC said the pair conducted fraudulent, unregistered securities offerings and operated an unregistered exchange. [1][2]
Scale and outcome
The SEC's 2019 complaint said Bitqyck raised more than $13 million from over 13,000 investors and that investors lost most of their money while the founders spent funds on personal expenses; Bitqyck settled, agreeing to penalties totaling about $10.1 million. The DOJ said the venture raised about $24 million; Bise and Mendez each pleaded guilty to tax evasion in 2021 and were sentenced in 2022 to 50 months in prison, jointly liable for $1.6 million in back taxes. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Bruce BiseCo-founderIndividualsCo-founder of Bitqyck, which sold the Bitqy and BitqyM tokens. The SEC said the firm raised ~$24M from 13,000+ investors via false claims; Bise settled SEC fraud charges (2019) and was sentenced in 2022 to 50 months for tax evasion.
- Sam MendezCo-founderIndividualsCo-founder of Bitqyck (Bitqy / BitqyM tokens). He settled SEC fraud charges in 2019 and was sentenced in 2022 to 50 months in prison for tax evasion tied to misappropriated investor funds.
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.