The U.S. Securities and Exchange Commission charged four entities over two alleged crypto and artificial-intelligence investment scams that raised more than $15 million from investors.
The SEC filed the cases in Manhattan on Sept. 29, alleging that the groups used WhatsApp and Facebook to attract investors with promises of high returns. The agency said the operators falsely claimed their investments were overseen by the SEC and used fabricated documents to appear legitimate.
Cryptoaiml Allegedly Used Fake AI Signals #
Cryptoaiml allegedly raised more than $12.5 million from over 300 investors by promoting AI-generated trading signals through WhatsApp. The SEC said the company claimed its signals were 98% accurate, although no actual trading occurred and reported profits were allegedly fabricated.