SEC sues four organizations for $15 million WhatsApp fraud

The U.S. securities regulator SEC has sued four organizations for two major investment frauds. Hundreds of small investors lost over $15 million after being lured to fake platforms via WhatsApp and other online channels. The AFM warns that the same methods are also being used in the Netherlands, particularly in chat groups. Two groups, Cryptoaiml Ltd. and Cryptoaiml Capital Foundation, are alleged to have embezzled over $12.5 million, while TSAI Pro Ltd. and TSAI Capital Foundation are responsible for a separate fraud of $2.8 million. Victims saw fabricated profits on platforms where, according to the SEC, no real trading took place. The organizations posed as trustworthy investment professionals and allegedly shared trading signals supposedly generated by artificial intelligence. When victims requested withdrawals, they were told that their accounts were blocked and that they needed to pay additional fees. The suspects used forged documents and a fake SEC certificate to appear professional. The AFM has previously warned of an increase in investment fraud via WhatsApp and other chat groups, where participants are lured with unsolicited tips and pressured to transfer money quickly.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.