The Commodity Futures Trading Commission brought an enforcement action against Blake Kantor a/k/a Bill Gordon and other defendants for purportedly selling binary options to retail persons while not being appropriately registered as futures commission merchants, and later, offering some customers an opportunity to purchase a virtual currency known as an "ATM" coin, all as part of a fraudulent scheme. According to the CFTC, the defendants also misappropriated at least some of their customers’ funds. Concurrent with filing its legal action, the CFTC obtained an emergency order freezing the defendants’ assets, while the US Attorney’s Office in Brooklyn, New York indicted Mr. Kantor for his role in the alleged fraud. According to both the CFTC and the Department of Justice, Mr. Kantor solicited funds from customers for trading binary options, and then manipulated the trades to the customers’ disadvantage. Mr. Kantor then persuaded some customers to use balances in their binary options account to purchase ATM coins. The CFTC and the DOJ filed their legal actions in a federal court in Brooklyn.