Mining Automatic / Zan Shaikh
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anchored·3qJfHt…CGksSummary
Mining Automatic, the trade name of Bright Vision Distribution LLC, and its founder Zan Shaikh, a Florida resident, were charged by the U.S. Securities and Exchange Commission on July 20, 2026 with allegedly raising approximately $22 million from more than 380 investors between June 2023 and May 2025 through a fraudulent, unregistered crypto mining investment scheme. According to the SEC, only about 13% of investor funds went to mining-related expenses, with the rest allegedly spent on recruiting new investors and on Shaikh's personal expenses; at least $20 million more was taken in than repaid and no investor has recovered their principal. Both defendants consented, without admitting or denying the allegations, to proposed injunctive judgments pending court approval, while disgorgement, prejudgment interest and civil penalties remain to be determined by the U.S. District Court for the District of Massachusetts.
Connected Entities
5 entities · 60 linked investigations- Mining Automatic / Zan Shaikh→mentioned with→Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)(85%)
- Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)→mentioned with→Mining Automatic / Zan Shaikh(85%)
- Mining Automatic→mentioned with→Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)(85%)
- Mining Automatic→mentioned with→Mining Automatic / Zan Shaikh(85%)
- Mining Automatic / Zan Shaikh→mentioned with→Cointelegraph(60%)
- Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)→mentioned with→Mining Automatic(80%)
- Mining Automatic / Zan Shaikh→mentioned with→Mining Automatic(80%)
- Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)→mentioned with→Amazon(60%)
Connected Through
2 shared actors · 91 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Cointelegraphtoken
- □Amazonorganization
2 submissions awaiting moderator review.
Timeline(5 events)
June 2023
Mining Automatic (Bright Vision Distribution LLC) begins soliciting investors with promises of guaranteed monthly returns from crypto asset mining operations, according to the SEC complaint.
SEC Litigation Release No. 26590March 2025
Mining Automatic allegedly stops making payments to investors, about two months before the alleged end of the scheme. The SEC states no investor has recovered their original principal.
SEC Litigation Release No. 26590May 2025
The alleged scheme period ends, per the SEC complaint; approximately $22 million had been raised from more than 380 investors over roughly two years.
SEC Litigation Release No. 26590July 2026
On July 20, 2026 the SEC files partially settled charges against Zan Shaikh and Bright Vision Distribution LLC (d/b/a Mining Automatic) in the U.S. District Court for the District of Massachusetts (Litigation Release No. 26590). Both defendants consent, without admitting or denying the allegations, to proposed permanent injunctions; Shaikh also consents to an officer-and-director bar. Monetary remedies remain to be determined by the court.
SEC Litigation Release No. 26590July 2026
Crypto and financial news outlets report the SEC charges, including CoinTelegraph, The Daily Hodl, Cryptopolitan, Blockonomi and FinanceFeeds.
CoinTelegraph — SEC Sues Mining Automatic and Founder Over Alleged $22M Crypto Mining SchemeDecision Log
- slot 461977486 · hash DEcGBbEk9izpbB3ijSLwXcLVva8C74bjaD6tSzgvgrHT
- slot 461977481 · hash DiCqztNcprzcQtZh2gLZJMBN5bm7k5JTZFVGcA2RXfdi
- slot 443503750 · hash Cn8VfjdQn7DsztgGwgxEaSeWDCe2YmDFsBUNnkpDvVpP
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 17 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 8/2/2026, 11:18:57 PM
last updated: 10/27/2026, 6:58:17 AM
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