SEC Secures Default Judgment Against Thor Technologies and Its Founder

Thor Technologies and its founder, David Chin, have encountered a legal hurdle in their ongoing conflict with the United States Securities and Exchange Commission (SEC) regarding the unauthorized sale of $2.6 million in cryptocurrency securities.

On October 19, the SEC announced that it had secured a default judgment against Chin and Thor, issued by the U.S. District Court for the Northern District of California in San Francisco on October 18. A default judgment occurs when one party in a lawsuit fails to respond or defend themselves within the legal timeframe set by the court. This usually happens when the defendant does not file a response to the plaintiff’s complaint or fails to appear in court as required.