Two crypto companies, TrustToken and TrueCoin, have been charged by the SEC for defrauding their investors related to a stablecoin investment program.

The Security and Exchange Commission announced fraud-related charges against TrueCoin and TrustToken in a press release today, September 2024.

The basis of these charges were the unregistered and scam sales of investment contracts, involving the stablecoin, TUSD.

TUSD was issued by TrueCoin, whereas TrustToken was behind the purported lending protocol called TrueFi.

Additional reporting by Noor Bazmi

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