The US SEC sues three fake crypto trading platforms and four investment clubs for allegedly defrauding $14 million.

PANews, December 24 — According to an announcement on the SEC's official website, the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against three fraudulent crypto asset trading platforms—Morocoin, Berge, and Cirkor—as well as four investment clubs. They are accused of luring retail investors into WhatsApp groups through social media advertisements, enticing them to invest in fake platforms and counterfeit security tokens under the guise of AI stock recommendations, and defrauding them of over $14 million. The fraudulent tactics included fabricating government licenses, forging trading records, and charging fake withdrawal fees. The SEC is seeking permanent injunctions, civil penalties, and disgorgement of ill-gotten gains.