Titanium Blockchain (BAR)
A 2018 ICO by Titanium Blockchain (TBIS), led by Michael Stollery, that raised ~$21M for its 'BAR' token using fabricated testimonials and bogus partnerships (e.g. the Federal Reserve, PayPal, Boeing). The SEC froze it; Stollery was sentenced to 51 months.
Also known as: Titanium Blockchain, TBIS, BAR, Michael Stollery, Michael Stollaire
Summary
Titanium Blockchain Infrastructure Services (TBIS), led by Michael Stollery (a.k.a. Michael Stollaire), ran a 2018 ICO for its "BAR" token that raised about $21 million. The SEC and DOJ said Stollery lured investors with false and misleading statements — including fabricated client testimonials and bogus business relationships with firms such as the Federal Reserve, PayPal, and Boeing. [1][2]
Outcome
The SEC obtained an emergency asset freeze in 2018. Stollery pleaded guilty to securities fraud and was sentenced in 2023 to 51 months (about 4.25 years) in prison and ordered to pay over $5.4 million in restitution; he had commingled investor funds for personal expenses, including bills for his Hawaii condo. [1][3]
Bracketed numbers refer to the numbered sources listed below.
Sources (3)
See also
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
Gala Games exploitTokensOn May 20, 2024 an attacker abused a privileged minter account on the GALA token contract to mint 5 billion GALA (≈$200M+ nominal) and dumped ~600M of them for ~$22M of ETH before Gala froze the address. Gala Games called it an internal access-control failure; the attacker later returned the ~$22M.
This page was last updated on Jun 15, 2026. View revision history.
