Report: Block.one’s cryptocurrency exchange Bullish suspected of insider manipulation

On September 4, a report from the legal financial analysis company IntegraFEC showed that EOS's parent company Block.one had a series of suspicious transactions during the ICO, deliberately pushing up the price of EOS and inducing others to buy ICO tokens.

If the findings are true, this would violate the U.S. Securities Act of 1933 and the Exchange Act of 1934.

Over 11 months in 2017 and 2018, a little-known software maker called Block.one raised more than $4 billion in an initial coin offering for a new cryptocurrency, EOS, more than almost any other ICO before it. In 2019, the Securities and Exchange Commission fined Block.one $24 million for running an unregistered ICO.

EOS token holders sued Block.one last year, calling the sale a "fraudulent scheme" and claiming the company violated securities laws.