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BTCC / BTCC Square / Global Cryptocurrency /
SEC Charges Seven Firms in $14M Crypto Fraud Targeting Retail Investors

SEC Charges Seven Firms in $14M Crypto Fraud Targeting Retail Investors

Author:
Global Cryptocurrency
Published:
2025-12-23 08:00:02
8
2
BTCCSquare news:

The U.S. Securities and Exchange Commission has filed charges against seven entities—three crypto trading platforms and four investment clubs—for allegedly orchestrating a $14 million fraud targeting retail investors. The scheme, active between January 2024 and January 2025, Leveraged social media ads and WhatsApp groups to promote fictitious AI-driven crypto investments and token offerings.

Defendants include Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc., alongside investment clubs AI Wealth Inc. and Lane Wealth Inc. The SEC's complaint, filed in Colorado federal court, accuses the groups of violating anti-fraud provisions of the 1933 Securities Act and 1934 Exchange Act.

The case underscores regulators' intensified crackdown on crypto-related fraud, following recent convictions tied to Ponzi schemes like IcomTech. 'Fraudsters increasingly exploit the allure of AI and crypto to prey on unsophisticated investors,' noted an SEC enforcement official.

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