Jeremy McAlpine
Co-founder of Dropil, which ran a fraudulent DROP-token ICO around a fake 'Dex' trading bot. He pleaded guilty to securities fraud in 2021 and was sentenced to 36 months; he also gave false testimony and manufactured fake evidence during the SEC probe.
Also known as: Jeremy David McAlpine
Bio
Jeremy David McAlpine co-founded Dropil and promoted the DROP token and its purported "Dex" trading bot. Per the DOJ, he and co-founder Zachary Matar grossly overstated funds raised and Dex's profitability, and during the SEC's investigation manufactured fake reports/spreadsheets and gave false sworn testimony. [1][2]
Legal outcome
McAlpine pleaded guilty to one count of securities fraud in August 2021 and was sentenced to 36 months in federal prison; he also settled the SEC's civil case with a permanent bar from digital-securities offerings. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- Two Orange County Men Sentenced (Dropil) — U.S. DOJ (CDCA)
- SEC Obtains Settlement in Fraudulent and Unregistered ICO Case (Dropil) — 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.