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SEC Uncovers $14M Crypto Scam That Lured Investors Through WhatsApp Groups

SEC Uncovers $14M Crypto Scam That Lured Investors Through WhatsApp Groups

Author:

Global Cryptocurrency

Published:

2025-12-24 10:55:02

20

3

BTCCSquare news:

The U.S. Securities and Exchange Commission has charged seven entities in connection with a fraudulent crypto scheme that siphoned over $14 million from retail investors. The operation, active from early 2024 through January 2025, relied on social media ads and WhatsApp groups to lure victims with promises of AI-powered trading strategies and exclusive investment clubs.

Scammers posed as financial professionals, building trust before directing users to fake platforms—Morocoin, Berge, and Cirkor—that displayed fabricated profits. The SEC emphasizes that no actual crypto trading occurred, exposing the scheme as a coordinated effort to exploit unsophisticated investors.

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