SEC Secures $2.68 Million Judgment Against BitConnect Promoter Craig Grant
By DefendMe Team · · Hot News
The U.S. Securities and Exchange Commission (SEC) has secured a $2.68 million final default judgment against Craig Grant, one of the U.S.-based promoters of the notorious BitConnect cryptocurrency investment scheme. On August 7, 2026, the court granted the SEC’s request for a default judgment after Grant failed to respond to the proceedings against him. The judgment requires Grant to pay: $1,748,747 in disgorgement; $702,105.84 in prejudgment interest; and $230,480 as a civil penalty. The total amount exceeds $2.68 million, with payment ordered within 30 days of the judgment. Grant’s Role in Promoting BitConnect BitConnect became one of the most prominent cryptocurrency investment schemes of the previous decade, attracting billions of dollars from investors before collapsing in early 2018. In 2021, the SEC brought proceedings against Grant and several other U.S.-based BitConnect promoters. According to the SEC, BitConnect relied on a network of promoters to market its so-called “Lending Program” to retail investors. The promoters advertised the investment opportunity through online content, including testimonial-style YouTube videos, while receiving commissions linked to the amount of money invested through their referrals. The SEC alleged that Grant and the other promoters offered and sold unregistered digital asset securities and acted without being registered as broker-dealers as required under U.S. securities laws. Years of Enforcement After BitConnect’s Collapse The judgment against Grant comes more than eight years after BitConnect collapsed, illustrating how regulatory and judicial proceedings connected with major cryptocurrency investment schemes can continue long after the platform itself has disappeared. Several other individuals involved in promoting BitConnect have already reached settlements with the SEC. Joshua Jeppesen agreed to pay approximately $3.18 million and 190 Bitcoin, while Laura Mascola agreed to pay approximately $576,000. Ryan Maasen reached a settlement of approximately $526,000, while a judgment requiring Michael Noble to pay approximately $1.07 million was finalized in 2026. Proceedings involving another promoter, Trevon James, have also continued. Why This Matters for Victims of Investment Fraud The Grant judgment highlights an important feature of large-scale investment fraud investigations: the disappearance or collapse of an investment platform does not necessarily bring legal proceedings to an end. Authorities may continue pursuing individuals who promoted, operated or financially benefited from fraudulent or unlawful investment schemes years after the original platform ceased operating. For victims, this also demonstrates why preserving transaction records, cryptocurrency wallet information, communications with promoters and platform representatives, payment confirmations and other evidence remains important even when considerable time has passed since the investment was made. The BitConnect proceedings remain one of the clearest examples of how enforcement actions surrounding a major cryptocurrency investment scheme can continue for many years after its collapse.