Singularity Future Technology (SGLY) Investor Settlement
Singularity Future Technology has reached a settlement with $SGLY investors over claims that it falsely promoted a shift from a shipping business to a crypto hardware company.
In 2021, Singularity rebranded itself as a crypto-focused firm, claiming to manufacture proprietary mining equipment and securing major infrastructure deals. However, the company was accused of engaging in sham joint ventures, misleading promotions, and concealing executives' histories. After a series of revelations and reports, $SGLY fell by over 90%, and investors filed suit.
February 2, 2021 – Singularity announced its shift from logistics to cryptocurrency and blockchain.
March 3, 2021 – The company claimed to have purchased 2,783 mining servers; $SGLY rose.
October 4, 2021 – SGLY announced Thor Miner joint venture and $200M deal with SOS.
April 11, 2022 – Singularity claimed a $250M partnership with Golden Mainland for mining operations.
May 5–6, 2022 – Hindenburg and Peabody released reports detailing fraud; $SGLY dropped nearly 40%.
December 9, 2022 – Investors filed a lawsuit.
June 2025 – Singularity agreed to settle with investors.
Formerly operating as Sino-Global, Singularity was a logistics company struggling with declining business. In early 2021, it repositioned itself as a cryptocurrency hardware player, claiming to develop and sell mining rigs and secure large-scale energy infrastructure projects.
However, research reports and regulatory probes later showed that the crypto transformation was largely fabricated. The supposed hardware joint venture, Thor Miner, had no proprietary products or operations. One of its key partners, Golden Mainland, had a fake business address and minimal web presence.
The CEO, Yang Jie, was revealed to have a criminal record and ties to a Ponzi scheme in China. The company also sold over $21 million in unregistered securities based on false claims. As the truth surfaced, the stock collapsed from over $14 to under $1—losing more than 90% of its value.
On December 9, 2022, investors filed a lawsuit alleging the company misled them about the legitimacy of its crypto business.
Singularity Future Technology has reached a settlement with $SGLY investors over claims that it falsely promoted a shift from a shipping business to a crypto hardware company.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Frequently Asked Questions
All persons or entities who purchased or otherwise acquired publicly traded securities of Singularity Future Technology Ltd. (formerly known as Sino-Global Shipping America Ltd.) between February 2, 2021 and February 24, 2023, inclusive, and were damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.