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Violation Tracker Individual Record

Company: Butterfly Labs
Penalty: $15,000
Year: 2016
Date: February 18, 2016
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Butterfly Labs and two of its operators agreed to settle Federal Trade Commission charges that they deceived thousands of consumers about the availability, profitability, and newness of machines designed to mine the virtual currency known as Bitcoin, and that they unfairly kept consumers' up-front payments despite failing to deliver the machines as promised.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.