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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →The SEC announced charges on Dec. 22, 2025, alleging that three purported crypto trading platforms and four investment clubs used social-media ads and WhatsApp groups to defraud U.S. retail investors of at least $14 million. The complaint describes alleged fake investment offerings and advance-fee demands; the charges and requested remedies are not a final court finding.
What the SEC says happened
According to the SEC’s Dec. 22, 2025, announcement, the alleged scheme operated from at least January 2024 to January 2025. Social-media advertisements directed investors to WhatsApp groups run by purported investment clubs. The complaint alleges the clubs used purported AI-generated investment tips to build trust, then told people to open and fund accounts on purported crypto trading platforms.
The SEC alleges that the platforms falsely claimed to hold government licenses. They purportedly offered “Security Token Offerings” said to be issued by legitimate businesses, but the complaint says neither the offerings nor the purported issuing companies existed. It further alleges that no trading took place on the platforms and that investors seeking withdrawals were asked to pay fees in advance.
The SEC says at least $14 million was misappropriated from U.S.-based retail investors and allegedly moved overseas through bank accounts and crypto asset wallets. That is the agency’s allegation about this case, not a measure of how common social-media crypto scams are.
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Who was charged
The SEC named three purported crypto trading platforms and four investment clubs:
- Purported trading platforms: Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc.
- Investment clubs: AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation.
What the SEC is seeking
The SEC filed its complaint in the U.S. District Court for the District of Colorado, alleging violations of the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The agency says it seeks permanent injunctions and civil penalties against all defendants, along with disgorgement and prejudgment interest from Morocoin, Berge, and Cirkor. These are requested remedies, not outcomes established by the announcement. The announcement does not establish the litigation’s status after filing.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to check an investment offer
The SEC recommends using Investor.gov to check the background of anyone offering or selling an investment. Its investor alert on social-media and investment fraud warns that social-media platforms and messaging apps may be used to lure investors and advises against relying solely on group-chat information when making investment decisions.
Quick Recap
- Check the background of the person or firm offering the investment through Investor.gov.
- Do not treat claims in a WhatsApp group or other chat as independent verification of an investment.
- Be wary of demands for advance fees when trying to withdraw money; in this case, the SEC complaint alleges that such demands followed withdrawal requests.
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