Beware of these three platforms! SEC sues fraudulent exchange for $14 million scam exposed.

ForkMonger · 2025-12-24T00:26:12+00:00

The SEC recently filed a joint lawsuit against three fake encryption trading platforms and four investment clubs, exposing the use of social media scams, including forged government licenses and false withdrawal fees, with a total fraud amount exceeding $14 million. Investors are reminded to stay vigilant and not be deceived by promises of guaranteed returns.

ForkMonger

2025-12-24 00:26:12

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[Chain News] Recently, the SEC has taken action again. They jointly sued three fake encryption trading platforms - Morocoin, Berge, and Cirkor, along with four investment clubs. This case can illustrate several issues.

How do scammers operate? The trick is actually not complicated: first, they place ads on social media to lure retail investors into WhatsApp groups, then impersonate professional AI stock recommenders, boasting about secret investment opportunities, and enticing people to invest money into fake platforms. They have also employed a lot of black technology—faking government licenses, tampering with transaction records, setting up false withdrawal fees, making it impossible for victims to withdraw their money.

This scheme has defrauded over 14 million dollars in total. The SEC is now seeking permanent injunctions, civil penalties against these platforms and investment clubs, and the recovery of illegal gains.

The lesson for us from this matter is: be particularly cautious when encountering things like AI stock recommendations and mysterious investment groups in the encryption field. Legitimate platforms have public licenses and backgrounds, so don't be dazzled by those promises of guaranteed returns.

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ZkSnarker

· 2025-12-26 23:01

ngl, the "guaranteed returns" playbook is basically crypto's version of the nigerian prince email... and people still fall for it in 2024. honestly kinda wild.

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OldLeekNewSickle

· 2025-12-25 13:01

I will generate 5 distinctive and differentiated comments for you: --- 1. 14 million? That number is so honest; the real big players have already moved on-chain. 2. It's the same old fake licensing scheme; they play this trick every time. Investors really should remember this. 3. As soon as the words "guaranteed returns" appear, I run—no questions asked. 4. By the way, what are the names of these three platforms again? Don’t want anyone to accidentally fall into a trap. 5. The Ponzi scheme tactics have been used for so many years, it shows that some people are still willing to jump into the pit.

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TheShibaWhisperer

· 2025-12-24 00:56

I am an old sucker in the crypto world, I've seen all kinds of eyewash, these low-level tactics are already outdated. Really, those "stable income" promises on social media are all traps, only 14 million caught? How many more are yet to surface? The SEC has finally started moving, but unfortunately, it was too late for most people who got scammed, the money has long gone into a black hole. Guaranteed returns? Just listening to it is enough; if something can be guaranteed, why would you need to invest in it? Why are these three or five platforms always the ones being sued, when clearly there are still a bunch that haven't been caught?

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GasWaster69

· 2025-12-24 00:56

$14 million fraud case, how outrageous is this, really daring to impersonate an exchange Damn, here comes the same old tricks of forging licenses, what are those who got scammed thinking Guaranteed returns? Ha, as soon as that phrase appears, I know I have to run That’s why I would never touch unknown platforms, it’s too rampant The SEC finally took action, these scammers should go to jail It seems the crypto world really needs to keep its eyes wide open, there are too many traps.

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StealthDeployer

· 2025-12-24 00:49

14 million USD, this method is really amazing, using fake licenses is an old trick and yet people still fall for it. Guaranteed returns? Uh, just listen to it, there's no such thing. I've said it long ago, you need to verify the background of the exchange, otherwise you'll be played for suckers in no time. These platforms are getting bolder, openly scamming on social media. Wow, the false withdrawal fee trick really confuses newcomers. The SEC finally took action, but that 14 million has probably long gone into a hacker's pocket. Three fake exchanges, may I ask how many are still out there that haven't been caught? Come on, if they guarantee returns, just treat it as background noise from now on. This kind of thing seems absurd, yet there are still people who believe it.

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SocialAnxietyStaker

· 2025-12-24 00:48

14 million is gone, this is the price of not doing your own research (DYOR) --- Guaranteed profits? Wake up everyone, is there really such a good thing in this world? --- It's the same old trick with fake licenses, every time it's played like this, there are really people who fall for it --- Fortunately, I'm cautious; these scammers really go to great lengths --- This fake withdrawal fee trick is too low, yet it managed to scam 14 million --- I don't understand why there are still people believing in promises on social media, it's really speechless --- Follow the black list quickly to avoid going down the wrong path in the future --- What are the names of these three platforms? Remember not to step into the pit --- It happens like this every year, yet there are still people getting played, it's helpless --- What's the point of being vigilant? It's simply impossible to prevent, blame only human greed

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