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The U.S. Securities and Exchange Commission (SEC) uncovered a digital currency fraud involving more than $14 million and charged three companies and four investment clubs with targeting individual investors through advertisements on social networking sites.
and based on The scheme relied on easy profits and purported investment advice powered by artificial intelligence to lure victims, then move them to WhatsApp groups to build trust before forcing them to deposit money into fake trading platforms claiming to be licensed.
There are additional fees when requesting withdrawals, and the funds are then transferred abroad via crypto wallets and bank accounts.
The SEC confirmed that these methods are expanding as the use of deepfakes, fake identities and platform interfaces escalates to defraud investors.
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