ام مهيب الصبري
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The SEC accuses cryptocurrency platforms and investment clubs of fraud
According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency platforms and four investment clubs with orchestrating a coordinated fraudulent scheme, allegedly deceiving individual investors out of at least $14 million. The regulatory body claims that the operation used social media ads, private messaging apps, and fake trading interfaces to trick victims into believing they were investing through legitimate cryptocurrency channels.
The defendants in the lawsuit include Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., Cirkor Inc., as well as investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Technology. The SEC alleges that the scheme targeted individual investors in the United States and lasted from January 2024 to January 2025.
This case highlights a form of fraud that combines traditional scamming methods with digital tools, leveraging familiar social platforms and complex interfaces to create the illusion of professional investment operations.
According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency platforms and four investment clubs with orchestrating a coordinated fraudulent scheme, allegedly deceiving individual investors out of at least $14 million. The regulatory body claims that the operation used social media ads, private messaging apps, and fake trading interfaces to trick victims into believing they were investing through legitimate cryptocurrency channels.
The defendants in the lawsuit include Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., Cirkor Inc., as well as investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Technology. The SEC alleges that the scheme targeted individual investors in the United States and lasted from January 2024 to January 2025.
This case highlights a form of fraud that combines traditional scamming methods with digital tools, leveraging familiar social platforms and complex interfaces to create the illusion of professional investment operations.
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