SEC goes after Bitqyck founders in digital asset fraud caseThe United States Securities and Exchange Commission (SEC) has earlier today announced settled charges with Bitqyck Inc. and its founders – Bruce Bise and Sam Mendez, who allegedly defrauded investors in securities offerings of two digital assets, Bitqy and BitqyM, and operated an unregistered exchange to permit trading in one of them, a digital token called Bitqy. According to the SEC’s complaint, Bitqyck and its founders created and sold Bitqy and BitqyM in unregistered securities offerings to more than 13,000 investors, raising more than $13 million. Investors allegedly received $4.5 million for referring new investors to Bitqyck but collectively lost more than two-thirds of their investment in the company. Bitqyck, aided and abetted by its founders, is alleged to have illegally operated TradeBQ, an unregistered national security exchange offering trading in a single security, Bitqy. Without admitting or denying the allegations, Bitqyck, Bise and Mendez consented to final judgments agreeing to all the injunctive relief.