Green United (GREEN)
A Utah operation that the SEC says raised ~$18M selling 'Green Boxes'/'Green Nodes' that supposedly mined a 'GREEN' token on a 'Green Blockchain.' In reality GREEN was a non-mineable ERC-20 the founder pre-minted, and the boxes mined Bitcoin that wasn't given to investors.
Also known as: Green United, GREEN, Green Boxes, Set Power Free
Note: The SEC's charges are allegations; the case has been litigated rather than settled with admissions.
Summary
Green United, LLC (d/b/a "Green" / "Set Power Free"), founded by Wright W. Thurston, raised at least $18 million (April 2018 – December 2022) selling "Green Boxes" and "Green Nodes" that investors were told would mine a digital token, GREEN, on a purported decentralized "Green Blockchain" / power grid. [1][2]
The alleged fraud
Per the SEC, GREEN did not exist when sales began — it was an ERC-20 token Thurston deployed on Ethereum in October 2018 and distributed to investor wallets to create the appearance of mining. The "Green Boxes" were ordinary Bitcoin miners (S9 Antminers) that mined BTC kept by the company, and "Green Nodes" software didn't mine GREEN at all. Promoter Kristoffer Krohn, an SEC recidivist, allegedly made misrepresentations about GREEN's value and returns. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Wright ThurstonFounderIndividualsFounder of Green United, which the SEC says raised ~$18M on a fake 'GREEN' mining story. He pre-minted GREEN as an ERC-20 token and sold 'Green Boxes' that actually mined Bitcoin kept by the company. Charged by the SEC for fraud and registration violations.
- Kristoffer KrohnPromoterIndividualsA promoter (and SEC recidivist) who sold Green United's 'Green Boxes,' allegedly acting as an unregistered broker and misrepresenting GREEN's value and returns. Charged by the SEC for fraud and registration violations.
Sources (2)
See also
$MELANIA tokenMarket manipulationA Solana memecoin announced by Melania Trump on Jan 19, 2025. Per FT analysis, ~24 wallets bought in minutes before the public announcement and netted ~$99.6M as retail piled in; the token then fell 95%+. Early buys were traced to wallets linked to $LIBRA figure Hayden Davis. No charges have been filed.
$TRUMP tokenMarket manipulationA Solana memecoin launched days before Donald Trump's second inauguration (Jan 2025). Trump-linked entities hold 80% of supply and earned $320M+ in fees while ~760,000 mostly-retail wallets lost money; a 'dinner with the president' promotion for top holders drew conflict-of-interest scrutiny. The 'scam' label is contested and no charges have been filed.
This page was last updated on Jun 15, 2026. View revision history.