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SEC Charges Crypto Platforms in $14M Fraud Scheme Targeting Retail Investors

SEC Charges Crypto Platforms in $14M Fraud Scheme Targeting Retail Investors

Author:

Global Cryptocurrency

Published:

2025-12-24 03:55:02

15

3

BTCCSquare news:

The U.S. Securities and Exchange Commission has filed fraud charges against a network of cryptocurrency platforms and investment clubs accused of orchestrating a $14 million scam. The defendants—Morocoin Tech, Berge Blockchain Technology, Cirkor, AI Wealth, Lane Wealth, AI Investment Education Foundation, and Zenith Asset Tech Foundation—allegedly used social media ads, deepfake videos, and fabricated government licenses to lure victims.

Funds were traced to Southeast Asia, including China, Indonesia, and Hong Kong. Victims reported taking out loans to invest in the fraudulent schemes, which promised returns through fake security token offerings and WhatsApp-based 'investment clubs' staffed by impersonators.

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