The US SEC has charged several crypto trading platforms and associated investment clubs with orchestrating a $14 million scam targeting retail investors. The fraudulent operation involved fake AI-driven trading strategies promoted via social media and WhatsApp, leading investors to deposit funds into unlicensed platforms that restricted withdrawals and imposed illegitimate fees. The SEC is pursuing legal actions including injunctions, penalties, and disgorgement of illicit gains.
[IMPORTANT] SEC Targets Crypto Trading Platforms and Investment Clubs for $14M Fraud Scheme
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