Policy
Only 13% Went to Mining: SEC Exposes $22M Crypto Mining Fraud
The Cryptonomist·July 21, 2026·1 min read
The SEC filed partially settled charges against Florida man Zan Shaikh and his company over a crypto mining fraud that allegedly stripped more than 380 investors of tens of millions of dollars. Only 13% of investor funds went to mining, according to the SEC's complaint. The charges expose a $22 million fraud scheme.
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