Edit: Shopin — CryptoScamsWiki

Title / name *

Summary *

Category *

Scam type *

Severity *

Chain

Token

Amount lost (USD)

Image

Upload

Paste a link or upload a file (max 5 MB).

Details (Markdown supported)

## Summary

Shopin (operated through UnitedData, Inc.), founded by Eran Eyal, claimed it would build blockchain-based "universal shopper profiles" tracking purchase histories across retailers. Its 2017–2018 ICO of Shopin tokens raised about $42.5 million. The SEC said Shopin never built a functional platform and that Eyal lied about retailer partnerships and a prominent backer, misappropriating at least ~$500,000 for personal use (rent, shopping, a dating service). [1][2]

## Outcome

In December 2019, the New York Attorney General secured Eyal's guilty plea to felony securities fraud under the Martin Act (plus two counts tied to prior companies, Springleap and Passo Sync); he was banned from raising capital or serving as an officer in New York for three years, ordered to pay restitution, and surrendered ~3,105 ETH. The SEC obtained a 2020 final judgment with an officer-and-director bar and a digital-securities bar. [1][2]

_Bracketed numbers refer to the numbered sources listed below._

Aliases (one per line)

Wallets (chain:address per line)

Propose an edit