Welcome to the ShipChain Fair Fund Website
If you are an investor who purchased SHIP tokens during the “pre-sale” phase of the initial coin offering (“ICO”) from October 1, 2017 through January 3, 2018, inclusive (the “Relevant Period”), you may be eligible to receive compensation in accordance with the provisions of the ShipChain Fair Fund’s Distribution Plan. You must submit a completed Certification Form, supporting documentation, and relevant tax form so that it is postmarked or, if not sent by U.S. Mail, received by April 21, 2025 to be eligible to recover from the Fair Fund Certification Forms and supporting documentation may also be uploaded here.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. IF YOU TIMELY SUBMIT A CERTIFICATION FORM AND YOU SATISFY THE ELIGIBILITY CRITERIA UNDER THE DISTRIBUTION PLAN APPROVED BY THE COMMISSION, YOU MAY BE ELIGIBLE FOR A DISTRIBUTION PAYMENT FROM THE SHIPCHAIN FAIR FUND. THIS NOTICE CONTAINS IMPORTANT INFORMATION REGARDING THE SHIPCHAIN FAIR FUND, THE PLAN, AND ELIGIBILITY UNDER THE PLAN.
Background
The ShipChain Fair Fund was established by the U.S. Securities and Exchange Commission (“SEC”) to distribute a $2,050,000 civil money penalty paid by the Respondents for violations of Sections 5(a) and 5(c) of the Securities Act of 1933 by offering and selling these securities without having a registration statement filed or in effect with the Commission or qualifying for exemption from registration with the Commission.
The ShipChain Fair Fund is intended to compensate investors who suffered a loss as a result of their purchases of SHIP tokens during the “pre-sale” phase of the initial coin offering (“ICO”) from October 1, 2017 through January 3, 2018, inclusive. The compensation program is governed by a Plan of Distribution (“Plan”) approved by the Commission on January 6, 2025. A copy of the Plan, which contains a description of eligibility and all conditions concerning participation in the distribution, can be found here.
Who is Potentially Eligible for Compensation?
Any investor who suffered a loss as a result of their purchases of SHIP tokens during the “pre-sale” phase of the initial coin offering (“ICO”) from October 1, 2017 through January 3, 2018, inclusive, may be eligible for compensation from the ShipChain Fair Fund subject to certain other eligibility limitations described in the Plan.
Distribution Payments will be subject to a $10.00 Minimum Distribution Amount.
Excluded from eligibility are: the Respondent, or Respondent’s advisers, agents, nominees, assigns, creditors, heirs, distributees, spouses, parents, children, or controlled entities; (b) the Fund Administrator, its employees, and those Persons assisting the Fund Administrator in its role as the Fund Administrator; and (c) any purchaser or assignee of another Person’s right to obtain a recovery from the Fair Fund for value; provided, however, that this provision shall not be construed to exclude those Persons who obtained such a right by gift, inheritance or devise.
How to Make a Claim
You must complete and sign the Certification Form and submit it, along with all supporting documentation, to the Distribution Agent so that it is postmarked or, if not sent by U.S. Mail, received no later than April 21, 2025. Certification Forms and supporting documentation may also be uploaded here.
The Certification Form can be downloaded here. If you have any questions or would like the Distribution Agent to send you a Certification Form, call 1-844-972-8855 or email info@shipchainfairfund.com
If you do not complete and timely submit a Certification Form, you may not be considered for eligibility to receive a Distribution Payment under the Plan.
Current Status
- Distribution Plan Notices were mailed on February 20, 2025.
- Certification Forms are due no later than April 21, 2025.