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BTCC / BTCC Square / Global Cryptocurrency /
SEC Exposes Fake Crypto Trading Platform Scam

SEC Exposes Fake Crypto Trading Platform Scam

Author:
Global Cryptocurrency
Published:
2025-04-23 08:40:02
15
3
The SEC has charged Ramil Palafox for running a $198 million scam through his company, PGI Global, falsely claiming to be a crypto and forex trading platform. He promised investors massive returns and offered multi-level marketing-like referral incentives. Palafox misappropriated over $57 million in investor funds to fund his lavish lifestyle and used the rest to pay other investors.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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