Tag: fake-bot
2 entries tagged “fake-bot”.
Dropil (DROP)
An ICO for the DROP token built around a fake 'Dex' trading bot. The SEC said it raised ~$1.9M while claiming $54M from 34,000 investors, and that the founders falsified evidence during the probe. Founders Jeremy McAlpine and Zachary Matar pleaded guilty to securities fraud (36 and 30 months).
TokensOtherMedium· $1.9M lost· 2 sources· updated Jun 8, 2026EmpiresX
A purported crypto hedge fund that promised ~1% daily returns from an 'EX BOT' trading robot. The SEC and DOJ called it a Ponzi scheme with ~$40M+ in investor losses; head trader Joshua David Nicholas pleaded guilty and was sentenced to 51 months.
ProjectsPonzi / HYIPHigh· $40.6M lost· 2 sources· updated Jun 8, 2026