The U.S. Securities and Exchange Commission (SEC) has charged five entities and three individuals tied to fraudulent crypto schemes involving NanoBit and CoinW6, both fake crypto trading platforms.
The scammers solicited investments through social media apps, tricking victims into handing over a lot of money that were then stolen. Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said:
“Relationship investment scams are a growing risk to retail investors. These schemes, particularly in the crypto space, are becoming more common as fraudsters exploit trust through social media to manipulate and rob investors.”
The scammers pretended to be financial professionals in WhatsApp groups to lure investors into their trap.
They marketed the NanoBit platform as a legitimate crypto asset trading operation, even falsely claiming that NanobitUS Securities was an SEC-registered broker.
Source: https://www.cryptopolitan.com/sec-charges-8-linked-to-nanobit-and-coinw6/