the U.S. Securities and Exchange Commission (SEC) won a $1.1 million court victory in a cryptocurrency fraud case, with the defendant failing to respond to the charges.

A federal judge in Georgia issued a default judgment in the case, in support of the SEC's lawsuit against Keith Crews. The SEC sued Crews in August 2023, accusing him of involvement in cryptocurrency fraud, but Crews did not respond or defend against it.

Judge Tiffany Johnson ruled that Crews must pay over $1.1 million in financial penalties, including the return of $530,000 in net profits obtained from his alleged misconduct, nearly $51,000 in prejudgment interest, and a $530,000 civil penalty.

In addition, the judge also ruled that Crews is permanently prohibited from violating securities laws again.