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Zachary Matar
Co-founder of Dropil and its fraudulent DROP-token ICO. He pleaded guilty to securities fraud in 2021 and was sentenced to 30 months in prison.
Also known as: Zachary Michael Matar
Bio
Zachary Michael Matar co-founded Dropil with Jeremy McAlpine, promoting the DROP token and the fake "Dex" trading bot that the SEC said was not genuinely profitable. [1][2]
Legal outcome
Matar pleaded guilty to securities fraud in August 2021 and was sentenced to 30 months in federal prison, with a parallel SEC settlement barring him 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.