Eran Eyal
Founder and CEO of Shopin. He pleaded guilty to felony securities fraud (NY Martin Act) over Shopin's ~$42.5M ICO — built on fake retailer partnerships and a nonexistent product — and also admitted fraud tied to two earlier companies; he settled parallel SEC charges.
Also known as: Eran Eyal
Bio
Eran Eyal, an entrepreneur with Israeli and South African citizenship, founded the blockchain startup Shopin and led its 2017–2018 ICO, which the SEC and NY AG said was fraudulent — touting fake retailer partnerships and a working platform that never existed, while he misappropriated investor funds. [1][2]
Legal outcome
In December 2019, Eyal pleaded guilty to felony securities fraud under New York's Martin Act (and two scheme-to-defraud counts tied to prior companies Springleap and Passo Sync), was banned for three years from raising capital or serving as an officer in New York, ordered to pay restitution, and surrendered ~3,105 ETH from Shopin investors. He settled the SEC's parallel case in 2020 (officer/director and digital-securities bars). [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- AG James Announces Criminal Conviction of Shopin's Eran Eyal — New York Attorney General
- SEC Charges Founder, Digital-Asset Issuer With Fraudulent ICO (Shopin) — U.S. SEC
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.