SEC sues ‘fake’ crypto exchanges in first action on pig butchering scams
The SEC has taken action against romance scammers for the first time, charging two allegedly fake crypto exchanges with carrying out fraud.
The United States Securities and Exchange Commission says it has taken its first-ever action against crypto “pig butchering” scammers, charging two allegedly “fake crypto asset trading platforms.”
The SEC sued five entities and three people it said were connected to the alleged fake exchanges NanoBit and CoinW6, accusing them of stealing nearly $3.2 million after gaining investors’ trust and pursuing relationships with them via social media, according to a Sept. 17 statement.
“These charges are the SEC’s first enforcement actions alleging these types of scams,” the SEC added.
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Author: Jesse Coghlan
