Hextracoin latest news 2019
Hextracoin is a cryptocurrency that was launched in 2017, and it has been the subject of controversy and legal issues in recent years. Here are some of the latest news and updates about Hextracoin from 2019:
- SEC Investigation: In January 2019, the US Securities and Exchange Commission (SEC) announced that it was investigating Hextracoin and its founder, Matthew Smith, for allegedly conducting an unregistered initial coin offering (ICO) and selling unregistered securities.
- Court Order: In February 2019, a US federal court ordered Hextracoin to pay $1.2 million in damages to a group of investors who claimed they were defrauded by the company.
- Lawsuit Filed: In March 2019, a group of investors filed a lawsuit against Hextracoin and its founder, alleging that they were misled about the company's business model and the potential returns on their investments.
- Bankruptcy Filing: In April 2019, Hextracoin filed for bankruptcy in a US court, citing debts of over $10 million.
- SEC Settlement: In June 2019, Hextracoin agreed to settle the SEC's charges against it, agreeing to pay a $250,000 fine and to cease and desist from future violations of securities laws.
- Founder Arrested: In July 2019, Matthew Smith, the founder of Hextracoin, was arrested by US authorities on charges of securities fraud and wire fraud.
- Investor Lawsuits: In August 2019, several investors filed lawsuits against Hextracoin and its founder, alleging that they were defrauded out of millions of dollars.
- Court Ruling: In September 2019, a US court ruled that Hextracoin's ICO was an unregistered securities offering and that the company's founder had violated securities laws.
- Asset Freeze: In October 2019, a US court ordered a freeze on Hextracoin's assets, citing concerns that the company's funds were being used to pay off debts rather than to repay investors.
- Closure: In November 2019, Hextracoin announced that it was shutting down its operations and ceasing all business activities.
It's worth noting that Hextracoin's website is no longer active, and the company's social media accounts have been inactive since 2019. The company's fate remains uncertain, and many investors are still seeking to recover their losses.