{"id":34143,"date":"2020-12-29T12:35:43","date_gmt":"2020-12-29T10:35:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34143"},"modified":"2025-08-28T17:16:53","modified_gmt":"2025-08-28T14:16:53","slug":"sec-freezes-assets-of-virgil-capital-crypto-hedge-fund","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-freezes-assets-of-virgil-capital-crypto-hedge-fund\/","title":{"rendered":"SEC freezes assets of Virgil Capital crypto hedge fund"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) <a href=\\\"https:\/\/www.sec.gov\/news\/press-release\/2020-341\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">has secured<\/a> the freezing of assets of the Virgil Capital cryptocurrency hedge fund and its subsidiaries amid alleged securities fraud.<\/p>\n<p><!--more--><\/p>\n<p>The <a href=\"https:\/\/forklog.com\/en\/news\/sec-accuses-founder-of-two-cryptocurrency-hedge-funds-of-fraud\">case involving the founder<\/a> of Virgil Capital, Virgil Sigma Fund and VQR Multistrategy, Stefan Qin. In the SEC&#8217;s view, he spent client funds on personal needs and high-risk investments, and also attempted to transfer $1.7 million to pay off debts.<\/p>\n<p>In the summer of 2020 Qin provided investors with fake documents allegedly showing a transfer of $3.5 million to the VQR Multistrategy fund. However, in reality this did not happen.<\/p>\n<p>The head of the SEC&#8217;s Cyber Unit, Christina Littman, said the asset freeze would help &#8220;prevent further harm&#8221; to investors.<\/p>\n<p>Earlier, on December 23, the Commission <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">filed suit against Ripple<\/a>, CEO Brad Garlinghouse and co-founder Chris Larsen. The SEC contends that the company sold unregistered securities in the form of XRP tokens.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has secured the freezing of assets of the Virgil Capital cryptocurrency hedge fund and its subsidiaries amid alleged securities fraud.<\/p>\n","protected":false},"author":1,"featured_media":34144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,128],"class_list":["post-34143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34143"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34143\/revisions"}],"predecessor-version":[{"id":34145,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34143\/revisions\/34145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/34144"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}