Category: CRYPTO INVESTMENT FRAUD

Crypto Investment Fraud refers to deceptive schemes where individuals or entities deceive investors into putting money into fraudulent cryptocurrency projects or platforms. These scams often promise high returns with little or no risk, leveraging the hype and volatility of the cryptocurrency market. Common tactics include Ponzi schemes, where early investors are paid with the money of new investors rather than profits from legitimate investments, and fake initial coin offerings (ICOs) where tokens are sold for a non-existent or worthless project. Other forms of fraud include pump-and-dump schemes, where the price of a cryptocurrency is artificially inflated and then dumped by the perpetrators, leaving unsuspecting investors with significant losses. The initial lack of regulation and anonymity associated with cryptocurrencies made it challenging for investors to verify the legitimacy of projects, making them vulnerable to various forms of exploitation and financial loss.

The Securities and Exchange Commission is dedicated to protecting investors in crypto markets and from cyber-related threats. The Enforcement Division’s Crypto Assets and Cyber Unit has brought Enforcement Actions related to fraudulent and unregistered crypto asset offerings and platforms while continuing to identify disclosure and controls issues with respect to cybersecurity.

SEC-PR-2024-73

File ID:  SEC-PR-2024-73 Date:  June 13, 2024 Accessed:  July 11, 2024 Headline:  Terraform and Kwon to Pay $4.5 Billion Following Fraud Verdict. Kwon to contribute more than $200 million, Terraform to wind down, and assets to be distributed to investor victims and creditors in bankruptcy. Source:  https://www.sec.gov/newsroom/press-releases/2024-73 Categories: CRYPTO INVESTMENT FRAUD SEC-PR-2024-73 – Viewer: ▼▼▼ […]

SEC-PR-2024-35

File ID: SEC-PR-2024-35 Date: March 12, 2024 Accessed: July 3, 2024 Headline:  SEC Charges 17 Individuals in $300 Million Crypto Asset Ponzi Scheme Targeting the Latino Community Source: https://www.sec.gov/newsroom/press-releases/2024-35 Categories: AFFINITY FRAUD FRAUDS TARGETING LATINO AMERICANS CRYPTO INVESTMENT FRAUD FOREX INVESTMENT FRAUD PONZI SCHEMES SEC-PR-2024-35 – Viewer: ▼▼▼ (Download PDF File )