Inexperienced United’s founder, Will Thurston (who, together with promoter Kristoffer Krohn, can also be named as a defendant within the lawsuit), allegedly used the cash traders gave him for the phony Inexperienced Bins and used it to purchase S9 Antminers – commercially-available bitcoin mining machines – which he then used to mine bitcoin for himself. In accordance with the SEC, traders didn’t see any of the particular bitcoin (BTC) their purchases mined, however as a substitute acquired periodic distributions of nugatory GREEN tokens created by Thurston on the Ethereum blockchain.
