By Staff Reporter |
An Arizona cryptocurrency company is under a temporary cease and desist order for allegedly violating the Arizona Securities Act.
The Arizona Corporation Commission (ACC) Securities Division issued the injunction order on Friday against Arizona resident Christopher Michael Maxon and IVT Media Group LLC, a company registered in Wyoming, for allegedly offering and selling unregistered securities in violation of the Arizona Securities Act. Maxon is IVT Media Group’s founder and CEO. Maxon’s wife, Laura Maxon, was also named in the order.
The ACC alleged that Maxon and IVT solicited investors to buy Iron Vault Tokens, or IV-SOL, along with royalty position and real estate acquisition returns as part of a three-phase stablecoin. Maxon and his company allegedly marketed the investments as having no risk and indefinite generative returns. IV-SOL was scheduled to launch on Oct. 1, 2026.
The tokens impose a 6% transaction fee purported to generate token revenue and liquidity while creating residual income for the investors and company.
IV-SOL is hosted on the Solana blockchain; it was created in March of this year with an initial supply of 250 billion tokens. According to the ACC order, IVT sought to raise $5 million by selling five billion IV-SOL tokens at the price of $0.001 per token to 10,000 participants, with a minimum investment of $250, or 250,000 tokens, per participant.
Then, as part of a second phase, IVT promised that investors would enjoy “life-changing passive income” manifesting as royalty positions and real estate acquisitions. In a third phase, IVT promised that it would create a high-volume digital currency ecosystem with more than $25 million in daily trading volume, a price increase to $1 per token, and royalty positions valued at $1 each. Additionally, IVT would introduce a secondary stablecoin backed by commercial real estate assets.
As part of the third phase, IVT alleged that investors would become millionaires receiving daily passive income for generations to come.
The ACC reported that at least 143 wallets held IV-SOL tokens as of Sept. 29, 2026, and approximately 11 investors purchased IV-SOL tokens.
The latest advertisement from IVT released in June promoted an “Iron Vault Education Platform” for investors to receive “exclusive training” on crypto and IV-SOL.
Maxon was accused of withholding important information about himself from investors, such as his being a lien debtor for more than 20 years, failure to disclose the past complaints against him alleging scamming related to his consumer cash businesses, and his past evictions in 2022 and 2023.
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