Hack history / 2022 / Fraud
TBIS
Fraud on Jul 26, 2022 · Scam
ONE SOURCE · 1 SOURCE
Lost
$21M
dollars at the time
Returned
none listed
as the sources state it
Rank
not ranked
collapses, frauds and later news are not ranked
What happened
CEO Michael Stollery of Titanium Blockchain Infrastructure Services (TBIS) pled guilty to securities fraud in connection to a $21 million cryptocurrency scam. The company promoted its BAR token during 2017–2018, and did not register with the SEC for its ICO. TBIS made false claims including that they had ties to companies including Apple, Boeing, and IBM, and offered various services that did not actually exist. At least 75 people participated in the ICO, giving TBIS a combined $21 million, some of which went directly to Stollery's bank account and personal expenses like a condo in Hawaii.
Details
- Date
- Jul 26, 2022
- Kind
- Fraud
- Method
- Scam
- How in
- Insiders: rug pulls, frauds, collapses
- Target
- not stated
- Chains
- not stated
Reported by
Related incidents
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Cite this page
SwanBluechip, "TBIS fraud, Jul 26, 2022: $21M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/hte3166ae19e/ (data as of 2026-11-01).