BXY is a token aligned with the defunct crypto exchange Beaxy, according to the complaint. Hoping to raise capital and create a strong user base, Beaxy sold investors on a token that it said could generate initial coin offering (ICO)-era high gains. It had an agreement with CCC to sell them as well. CCC pocketed 3 cents of every 5 cent sale, the complaint said.

CCC sold BXY to inexperienced investors without informing them of the company’s kickbacks, the complaint said. CCC later neglected to deliver BXY tokens to some of their buyers.

The SEC accused the group of acting as unregistered brokers and fraudsters in violation of U.S. securities law. It is seeking to bar them from offering crypto securities.