The US Securities and Exchange Commission (SEC) has charged three entities that claimed to operate crypto asset trading platforms, along with four so-called investment clubs, for allegedly running a large-scale fraud that targeted retail investors through social media.
According to the SEC, Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc., together with AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation, misappropriated more than $14 million from mostly US-based investors. The regulator said the scheme operated from at least January 2024 to January 2025 and followed a familiar pattern seen in many modern online investment scams.
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