Craig Sproule
Australian founder of Crowd Machine and Metavine who the SEC said ran a fraudulent CMCT ICO (~$33M) and secretly diverted $5.8M to South African gold mining. He consented to antifraud judgments, a $195K penalty, and an officer/director bar.
Also known as: Craig Derel Sproule, Man behind the Machine
Bio
Craig Derel Sproule, an Australian citizen who called himself the "Man behind the Machine," founded Crowd Machine and Metavine and led the 2018 CMCT ICO. The SEC said he made materially false statements and diverted $5.8 million of ICO proceeds to undisclosed South African gold-mining entities. [1][2]
Outcome
Without admitting or denying the allegations, Sproule consented in January 2022 to judgments enjoining antifraud/registration violations, paid a $195,047 civil penalty, and accepted an officer-and-director bar; his companies were later ordered to disgorge ~$20M+. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
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.