Audit log

Every state-changing event for Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-07-28 12:03:47Z
   Score: ? → ? (no score change)
   anchorpending

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   GM12JJe9K2YN…jKPQrK1dcopysha256 → base58

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   {"actor":"system:backfill","investigation_id":"5b1ff6c7-30cd-4d81-bd59-592d7678db09","kind":"publish","page_slug":"mining-automatic-zan-shaikh-bright-vision-distribution-llc","published_at":"2026-07-28T12:03:47.050Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Mining Automatic (Zan Shaikh / Bright Vision Distribution LLC)","sections":[{"content":"On July 20, 2026, the U.S. Securities and Exchange Commission filed charges against Zan Shaikh and Bright Vision Distribution LLC, doing business as Mining Automatic, in the United States District Court for the District of Massachusetts. The case is referenced under SEC Litigation Release LR-26590. The complaint charges both defendants with violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, as well as Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Shaikh and Mining Automatic consented to proposed judgments that would permanently enjoin them from future violations of these provisions. The consent judgments also include an officer and director bar and a conduct-based injunction against Shaikh. Disgorgement of profits, prejudgment interest, and civil penalties are sought in amounts to be determined by the court. The action is described by the SEC as partially settled, meaning injunctive terms were agreed upon while monetary relief remains subject to future court determination.","heading":"SEC Enforcement Action","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release LR-26590: Zan Shaikh and Bright Vision Distribution LLC, d/b/a Mining Automatic","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"SEC Files Partially Settled Charges Against Mining Automatic and Zan Shaikh - FX News Group","type":"news_article","url":"https://fxnewsgroup.com/forex-news/cryptocurrency/sec-files-partially-settled-charges-against-mining-automatic-and-zan-shaikh/"}]},{"content":"Between approximately June 2023 and May 2025, Shaikh and Mining Automatic allegedly solicited investors by promising guaranteed monthly returns generated from cryptocurrency mining operations. The SEC alleges the company made material misrepresentations regarding its experience and expertise in crypto asset mining, its track record, the actual use of investor funds, the operational status of mining infrastructure, and the reasons for missed or delayed monthly payments to investors. Despite representations that investor capital would be deployed into mining hardware and operations, the SEC alleges only approximately 13% of the approximately $22 million raised was spent on mining-related expenses. The operation generated approximately $1.1 million in mining revenue while paying out approximately $1.8 million in purported returns to investors, with the shortfall allegedly covered by inflows from new investors. The SEC characterized the scheme as exhibiting 'some of the hallmarks of a Ponzi scheme.' Investor payments reportedly ceased by March 2025.","heading":"Alleged Scheme Mechanics","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release LR-26590","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"SEC Targets Mining Automatic in Alleged $22M Fraud Case - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/sec-sues-mining-automatic-and-founder-over-alleged-22m-crypto-mining-scheme"},{"credibility":2,"name":"380 investors face Bitcoin mining losses after alleged $22M US scheme - CryptoSlate","type":"news_article","url":"https://cryptoslate.com/380-investors-face-uncertain-recovery-after-alleged-22-million-mining-scheme-put-just-13-into-mining/"}]},{"content":"The SEC alleges that the vast majority of the approximately $22 million raised from investors was not used for cryptocurrency mining as represented. Approximately $7 million of investor funds was allegedly directed toward advertising and marketing expenditures used to recruit new investors into the scheme. Additional funds were allegedly transferred directly to Zan Shaikh's personal bank accounts and used for personal real estate purchases, vehicle acquisitions, entertainment, and other unrelated business expenses. The SEC's complaint identifies Shaikh as a Florida resident. As of the July 20, 2026 filing date, the SEC states that at least $20 million in investor principal remains unpaid and that no investor had recovered their original investment.","heading":"Misappropriation of Investor Funds","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release LR-26590","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"$22M Crypto Mining Fraud: SEC Charges Mining Automatic in Alleged Ponzi Scheme - CoinCentral","type":"news_article","url":"https://coincentral.com/22m-crypto-mining-fraud-sec-charges-mining-automatic-in-alleged-ponzi-scheme/"},{"credibility":2,"name":"SEC Files Fraud Charges Against Mining Automatic - Blockonomi","type":"news_article","url":"https://blockonomi.com/sec-files-fraud-charges-against-mining-automatic-in-22m-cryptocurrency-ponzi-scheme/"}]},{"content":"The SEC alleges that more than 380 investors participated in the scheme over its approximately two-year operational period. As of the SEC filing date of July 20, 2026, the agency states that over $20 million in investor principal remains outstanding and that none of the affected investors had recovered their initial capital. Payments to investors reportedly ceased by March 2025, approximately two months before the scheme's alleged end date of May 2025. Disgorgement, prejudgment interest, and civil penalties are sought by the SEC but have not yet been quantified by the court, and no receiver or restitution fund has been publicly announced as of the investigation date. The FBI's Boston Division separately issued a victim information request identifying potential victims associated with Shaikh, Bright Vision Distribution, Mining Automatic, YT Automatic, and entities named RankOne Ecommerce and Replic8, with the FBI's victim timeline extending from 2022 through 2025, which is broader than the SEC's alleged scheme period.","heading":"Investor Impact and Recovery Prospects","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release LR-26590","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"380 investors face Bitcoin mining losses - CryptoSlate","type":"news_article","url":"https://cryptoslate.com/380-investors-face-uncertain-recovery-after-alleged-22-million-mining-scheme-put-just-13-into-mining/"},{"credibility":1,"name":"FBI Seeking Victim Information - Mining Automatic / Zan Shaikh","type":"regulatory","url":"https://www.fbi.gov/how-we-can-help-you/victim-services/seeking-victim-information"}]},{"content":"Mining Automatic operated through Bright Vision Distribution LLC, a Massachusetts-registered entity. Zan Shaikh is identified in public records and news reports as a Florida resident. Prior to Mining Automatic, Shaikh is publicly associated with several other ventures. RankOne eCommerce was described in promotional materials as a company assisting entrepreneurs in the Amazon drop-shipping space, with Shaikh credited as its founder. YT Automatic was a separate service, formed through a partnership between Shaikh and an individual named Chris Zissis, that claimed to build automated YouTube channels generating passive income. A third entity named Replic8 is cited in the FBI's victim outreach materials as affiliated with Shaikh and associates. The relationships between these prior ventures and the alleged Mining Automatic fraud have not been adjudicated, and no formal charges related to RankOne eCommerce, YT Automatic, or Replic8 are documented in available public sources as of the investigation date.","heading":"Entity Background and Prior Ventures","severity":"high","sources":[{"credibility":2,"name":"380 investors face Bitcoin mining losses - CryptoSlate","type":"news_article","url":"https://cryptoslate.com/380-investors-face-uncertain-recovery-after-alleged-22-million-mining-scheme-put-just-13-into-mining/"},{"credibility":3,"name":"RankOne eCommerce Seals Partnership With Chris Zissis to Form YT Automatic - The American Reporter","type":"news_article","url":"https://www.theamericanreporter.com/rankone-ecommerce-seals-partnership-with-chris-zissis-to-form-yt-automatic/"}]},{"content":"The SEC complaint filed July 20, 2026 in the U.S. District Court for the District of Massachusetts names both Zan Shaikh (individually) and Bright Vision Distribution LLC d/b/a Mining Automatic as defendants. The case is partially settled: both defendants consented to proposed judgments that include permanent injunctions against future securities law violations, a permanent officer and director bar against Shaikh, and conduct-based injunctions. These consent judgments are subject to court approval and have not yet been entered as final orders as of the investigation date. The monetary relief components — disgorgement of ill-gotten gains, prejudgment interest, and civil penalties — have not been quantified and remain subject to future SEC motions and court determination. No criminal charges have been publicly announced as of July 28, 2026, though the FBI's separate victim outreach implies an active parallel investigation.","heading":"Legal and Regulatory Status","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release LR-26590","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"SEC Files Partially Settled Charges - FX News Group","type":"news_article","url":"https://fxnewsgroup.com/forex-news/cryptocurrency/sec-files-partially-settled-charges-against-mining-automatic-and-zan-shaikh/"},{"credibility":2,"name":"SEC Sues Mining Automatic Founder Over $22M Fraud - UseTheBitcoin","type":"news_article","url":"https://usethebitcoin.com/news/sec-sues-zan-shaikh-fraud/"}]}],"sources_used":[{"credibility":1,"name":"SEC Litigation Release LR-26590: Zan Shaikh and Bright Vision Distribution LLC, d/b/a Mining Automatic","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"credibility":2,"name":"380 investors face Bitcoin mining losses after alleged $22M US scheme - CryptoSlate","type":"news_article","url":"https://cryptoslate.com/380-investors-face-uncertain-recovery-after-alleged-22-million-mining-scheme-put-just-13-into-mining/"},{"credibility":2,"name":"SEC Targets Mining Automatic in Alleged $22M Fraud Case - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/sec-sues-mining-automatic-and-founder-over-alleged-22m-crypto-mining-scheme"},{"credibility":2,"name":"$22M Crypto Mining Fraud: SEC Charges Mining Automatic in Alleged Ponzi Scheme - CoinCentral","type":"news_article","url":"https://coincentral.com/22m-crypto-mining-fraud-sec-charges-mining-automatic-in-alleged-ponzi-scheme/"},{"credibility":2,"name":"SEC Files Fraud Charges Against Mining Automatic in $22M Cryptocurrency Ponzi Scheme - Blockonomi","type":"news_article","url":"https://blockonomi.com/sec-files-fraud-charges-against-mining-automatic-in-22m-cryptocurrency-ponzi-scheme/"},{"credibility":2,"name":"SEC Files Partially Settled Charges Against Mining Automatic and Zan Shaikh - FX News Group","type":"news_article","url":"https://fxnewsgroup.com/forex-news/cryptocurrency/sec-files-partially-settled-charges-against-mining-automatic-and-zan-shaikh/"},{"credibility":2,"name":"SEC Sues Mining Automatic Founder Over $22M Fraud - UseTheBitcoin","type":"news_article","url":"https://usethebitcoin.com/news/sec-sues-zan-shaikh-fraud/"},{"credibility":3,"name":"RankOne eCommerce Seals Partnership With Chris Zissis to Form YT Automatic - The American Reporter","type":"news_article","url":"https://www.theamericanreporter.com/rankone-ecommerce-seals-partnership-with-chris-zissis-to-form-yt-automatic/"},{"credibility":1,"name":"FBI Seeking Victim Information - Mining Automatic / Zan Shaikh","type":"regulatory","url":"https://www.fbi.gov/how-we-can-help-you/victim-services/seeking-victim-information"}],"summary":"Mining Automatic, operated by Zan Shaikh through Florida-based Bright Vision Distribution LLC, is the subject of SEC fraud charges filed July 20, 2026 alleging a $22 million Ponzi scheme that defrauded more than 380 investors between June 2023 and May 2025. The SEC alleges only approximately 13% of investor capital was spent on actual cryptocurrency mining operations, while the remainder was misappropriated for marketing, personal enrichment, and Ponzi-style recruitment payouts. As of the filing date, over $20 million in investor principal remains unrecovered.","timeline":[{"date":"2023-06-01","event":"Mining Automatic / Bright Vision Distribution LLC begins soliciting investors with promises of guaranteed monthly returns from cryptocurrency mining operations, according to SEC complaint.","source":"SEC Litigation Release LR-26590","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"date":"2025-03-01","event":"Mining Automatic ceases making payments to investors, approximately two months before the alleged end of the scheme.","source":"CoinTelegraph / SEC complaint","source_url":"https://cointelegraph.com/news/sec-sues-mining-automatic-and-founder-over-alleged-22m-crypto-mining-scheme"},{"date":"2025-05-01","event":"Alleged scheme period ends, per SEC complaint. Total raised approximately $22 million from more than 380 investors over the approximately two-year period.","source":"SEC Litigation Release LR-26590","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"},{"date":"2026-07-20","event":"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. Both defendants consent to proposed permanent injunctions; monetary relief amounts remain to be determined by the court.","source":"SEC Litigation Release LR-26590","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590"}]},"v":1}

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