ChainCatcher news, according to Crowdfund Insider, the U.S. Commodity Futures Trading Commission (CFTC) announced a default judgment against Mosaic Exchange Ltd. and its owner and CEO Sean Michael. The CFTC initiated enforcement action, alleging a fraudulent digital asset commodity scheme.The order is based on a lawsuit filed by the CFTC on September 26, 2023, and the default judgment holds Mosaic and Michael responsible for all violations of CFTC regulations alleged in the lawsuit, including fraudulently soliciting 18 individuals in the U.S. and other countries, claiming to provide Bitcoin and other digital asset trading services while misappropriating customer funds.The default judgment requires them to pay approximately $468,600 in restitution, $60,980 in illicit gains, and $660,000 in civil penalties.