The US Securities and Exchange Commission (SEC) filed a complaint in Colorado District Court against three crypto asset trading platforms: Morocoin, Berge and Cirkor, accusing them of investor fraud and token fraud.The investment clubs AI Wealth, Lane Wealth, AI Investment Education Foundation and Zenith Asset Tech Foundation are also named in the lawsuit.

According to the regulator's complaint, the listed organizations operated from January 2024 to January 2025 and were promoted on social networks.The creators of the platforms worked mainly through WhatsApp messenger, created group chats and positioned themselves as financial specialists.

After being added to chats, users received investment advice generated by artificial intelligence (AI). Victims were then persuaded to open an account on the fraudulent platforms Morocoin, Berge and Cirkor and deposit funds. The attackers tried to convince investors that their platforms were legitimate by claiming they had a license.

In reality, no cryptocurrency transactions were made, the SEC said. Subsequently, these platforms began promoting stock tokens. When investors tried to withdraw their invested money, they had to pay additional withdrawal fees. But even after making these payments, investors could not get their money back.

According to the SEC, the defendants embezzled at least $14 million - these funds were transferred abroad through bank accounts and crypto services. "Beware of group chats where you get investment advice from strangers - this is how people become victims of scams," the SEC warned.

In February, an American court ordered the founders of cryptocurrency program EmpiresX to pay customers and authorities $130 million for defrauding investors. Recently, the SEC charged the founder of mining company VBit Technologies with fraud and embezzlement of $48.5 million collected from customers.