The U.S. SEC charges 3 individuals and 5 companies with operating a "pig butchering" scam

2024-09-18 15:33:30

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ChainCatcher news, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has filed charges against 3 individuals and 5 companies, accusing them of operating a "pig butchering" scam. Such scams gain the trust of victims through social media applications, luring them into investing in fake cryptocurrency platforms before absconding with their funds. This is the SEC's first enforcement action against this type of cryptocurrency scam. The SEC alleges that the NanoBit platform defrauded at least 18 investors of nearly $1 million through a fraudulent cryptocurrency ecosystem, while another platform, CoinW6, deceived at least 11 investors out of a total of $2.2 million. The SEC warns the public to be vigilant about investment opportunities promoted on social media.

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