The Debt Box
Crypto Overview
Warning: Project Status
As of October 2023, The Debt Box (DEBT) project has been identified as a potential fraud by the SEC. The United States Securities and Exchange Commission filed charges against Debt Box and its operators for allegedly orchestrating a $50 million cryptocurrency fraud scheme.
Project Overview
The Debt Box claimed to be a cryptocurrency mining project that would generate returns through mining operations. The project promised to provide users with mining capabilities through their 'node licenses.'
Business Model Analysis
The claimed business model involved selling mining node licenses to investors, who would then supposedly earn returns from mining operations. However, according to SEC findings, no actual mining operations existed.
Real-World Adoption
There is no evidence of legitimate mining operations or real-world utility. The SEC investigation revealed that the project's claims about mining operations were fabricated.
Development Activity
There is no evidence of genuine technical development or blockchain infrastructure deployment.
Crypto Impact
To assign a comfort level investing in The Debt Box from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to The Debt Box.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.