Green United failed to dismiss the $18 million cryptocurrency mining fraud lawsuit

ChainCatcher news, Green United LLC failed to dismiss the lawsuit from the U.S. Securities and Exchange Commission, which accused its executives of implementing a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million. Defendants Wright Thurston and Kristoffer Krohn are alleged to have falsely sold non-existent mining equipment, promoting "green boxes" and "green nodes" as tools for mining GREEN tokens.

On September 23, Judge Ann Marie McIff Allen ruled that the defendants failed to rebut the SEC's allegations, denying the motion to dismiss the fraud charges against Thurston, noting that the distribution of GREEN tokens to investors relied solely on Thurston's personal decisions.