Monsoon Blockchain Corporation
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 4 → 26. Problems weighed by who is responsible: the subject's own conduct −93, concerns that are not fraud −3.2, problems around the subject, caused by others −2.3; legitimacy credit long-running +10; no established finding that it defrauded anyone, so it stays out of the red band. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -93 |
| Concerns that are not fraud | -3.2 |
| Problems around it, caused by others | -2.3 |
| Long-running | +10 |
| Sum | -23 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →Summary
Monsoon Blockchain Corporation is a Palo Alto, California-based blockchain company founded and led by Dr. Donald G. Basile, also the founder of the Bitcoin Latinum (LTNM) token. On April 17, 2026, the U.S. Securities and Exchange Commission filed a civil complaint in the Eastern District of New York naming Monsoon Blockchain Corporation as a co-defendant alongside Basile and GIBF GP, Inc., alleging the three parties collectively raised approximately $16 million from hundreds of investors through the fraudulent sale of Simple Agreements for Future Tokens (SAFTs) predicated on false claims of insurance coverage and asset backing. The allegations have not been adjudicated; all charges remain accusations at the civil complaint stage.
Connected Entities
5 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Bitcoin(75%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Ethereum(60%)
- Bitcoin Latinum→mentioned with→Ethereum(65%)
- Bitcoin Latinum→mentioned with→Bitcoin(70%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Monsoon Blockchain Corporation(80%)
- Bitcoin Latinum→mentioned with→Monsoon Blockchain Corporation(80%)
- Bitcoin Latinum→mentioned with→Donald G. Basile / Bitcoin Latinum (LTNM)(80%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Bitcoin Latinum(80%)
- Monsoon Blockchain Corporation→mentioned with→Donald G. Basile / Bitcoin Latinum (LTNM)(80%)
- + 3 more
Timeline(7 events)
1 November 2019
Donald G. Basile begins serving as executive officer and director of Monsoon Blockchain Corporation.
Roman DBDR Team Profile / GlobeNewswire press release1 March 2021
SEC alleges the Bitcoin Latinum SAFT offering begins, with Monsoon Blockchain Corporation and GIBF GP, Inc. as co-fundraising entities targeting accredited investors under Regulation D.
SEC Litigation Release LR-2653028 September 2021
Monsoon Blockchain Corporation issues a GlobeNewswire press release announcing itself as 'the prime developer of the Bitcoin Latinum network' and describing planned ecosystem development across gaming, financial services, and media sectors.
GlobeNewswire1 December 2021
SEC alleges the Bitcoin Latinum SAFT offering closes, having raised approximately $16 million from hundreds of investors in the U.S. and abroad.
SEC Litigation Release LR-26530 / InvestmentNews1 January 2022
Bitcoin Latinum token price falls from approximately $200 to under $16 by late January 2022, according to reporting.
InvestmentNews1 February 2022
Private civil lawsuit filed in U.S. District Court, Eastern District of Michigan (Case No. 2:22-cv-10208) by Raymond Jonna, Simon Jonna, and Farid Jamardov against Bitcoin Latinum and Kevin Jonna, alleging securities fraud, wire fraud, and fraudulent conversion of at least $540,000 in investment funds.
Justia Docket / CryptoCurrencyWire17 April 2026
SEC files civil complaint in the Eastern District of New York (Case No. 1:26-cv-02293) naming Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation as defendants, alleging a $16 million fraudulent SAFT offering involving false insurance and asset-backing claims.
SEC Litigation Release LR-26530Decision Log
- slot 455359391 · hash 2vJtCKsgTPwQyjkXiL7YqYAM4XSmcgi6Qi7BpYrA75sN
- slot 446857422 · hash Dc5o6YH7kjNp2UNemAdruJezoGdGwnwqnpTCLmyH3zmK
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 11 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/13/2026, 11:27:00 PM
last updated: 10/10/2026, 6:40:48 PM
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