SEC Wins Case Against Thor Technologies, Founder David Chin In Unregistered Securities Sale

The U.S. Securities and Exchange Commission (SEC) got a win in its case against Thor Technologies for an unauthorized sale of $2.6 million in crypto asset securities.

The SEC received a default judgment against the company and its founder David Chin.

What Happened: In December 2022, the SEC filed a complaint on Chin and Thor for raising $2.6 million from a diverse group of 1,600 investors (200 of them residing in the U.S.) between March and May 2018, as reported by CoinGape. The funds were generated using the sale of its Thor (THOR) coin to be utilized for its business.

The tokens were meant to be used in a software platform connecting gig economy workers and companies. The project…

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