SEC wins lawsuit against Thor Technologies and its founders for issuing unregistered securities

ChainCatcher news, according to CoinDesk, based on court documents, the U.S. Securities and Exchange Commission (SEC) has made a default judgment against Thor Technologies and its founder David Chin, accusing them of unregistered issuance of $2.6 million in crypto asset securities.

Due to the absence of the parties, the SEC thus won the lawsuit against their unregistered issuance of $2.6 million in crypto asset securities. The court has prohibited Thor and Chin from participating in any crypto asset securities issuance and ordered the return of $744,555 along with interest of $158,638.06.