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The U.S. Securities and Exchange Commission (SEC) has accused the NanoBit and Coinw6 platforms of fraudulent cryptocurrencies, defrauding investors, and embezzling user assets.
According to the SEC's Director of Compliance, Gurbir Grewal, the NanoBit platform operated from October 2023 to June 2024. Scammers lured investors through the Whatsapp messenger, posing as financial specialists. After establishing contact with the victims, they convinced them to deposit money with a bogus crypto trading platform. The organizers of NanoBit "pumped out" more than $2 million from unsuspecting investors, the agency said.
Another fraudulent crypto platform, Coinw6, "specialized" in starting romantic relationships for financial gain. From July 2022 to December 2023, Coinw6 operators met victims on social media, convincing them to invest in fraudulent crypto products. When users tried to withdraw their funds and profits, they were required to pay additional fees under the guise of taxes or commissions. In addition, the fraudsters threatened the victims to freeze their assets or used blackmail, threatening to "leak" compromising love correspondence.
Grewell urged investors to be cautious if they receive "lucrative" offers to invest in cryptocurrencies online, especially if strangers write to them. Crypto asset fraud cases are on the rise year after year, and retail investors are suffering catastrophic damage, an SEC official has warned.
According to the SEC's Director of Compliance, Gurbir Grewal, the NanoBit platform operated from October 2023 to June 2024. Scammers lured investors through the Whatsapp messenger, posing as financial specialists. After establishing contact with the victims, they convinced them to deposit money with a bogus crypto trading platform. The organizers of NanoBit "pumped out" more than $2 million from unsuspecting investors, the agency said.
Another fraudulent crypto platform, Coinw6, "specialized" in starting romantic relationships for financial gain. From July 2022 to December 2023, Coinw6 operators met victims on social media, convincing them to invest in fraudulent crypto products. When users tried to withdraw their funds and profits, they were required to pay additional fees under the guise of taxes or commissions. In addition, the fraudsters threatened the victims to freeze their assets or used blackmail, threatening to "leak" compromising love correspondence.
Grewell urged investors to be cautious if they receive "lucrative" offers to invest in cryptocurrencies online, especially if strangers write to them. Crypto asset fraud cases are on the rise year after year, and retail investors are suffering catastrophic damage, an SEC official has warned.
