December 24 — The U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency exchanges and four investment clubs with orchestrating a coordinated fraud that allegedly defrauded U.S. retail investors of at least $14 million, per FinanceFeeds. The regulator said the scheme relied on social media ads, private messaging apps, and fake trading interfaces to trick victims into believing they were investing through legitimate cryptocurrency channels. Named in the complaint are Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., Cirkor Inc., and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Limited, and Zenith Asset Technology Foundation. The SEC noted the fraud ran from January 2024 to January 2025, targeting U.S. retail investors. This case underscores a fraud tactic that blends traditional scams with digital tools, using familiar social platforms and sophisticated interfaces to create the illusion of a professional investment operation.
