The SEC accuses a fraud gang of defrauding $2.9 million through cryptocurrency platforms and brokerage firms, with 28 victims

ChainCatcher News, U.S. securities regulators have charged a fraud ring, accusing them of impersonating U.S. securities brokers and investment advisors, and defrauding at least $2.9 million through fake websites and phone scams.

Since 2019, the group has posed as employees of well-known U.S. securities firms, promising monthly investment returns of 15%-25%. The group instructed investors to open accounts with brokerage firms and cryptocurrency trading platforms to purchase crypto assets, which they then misappropriated. The defendants also directed investors to fake online investment platforms they created, displaying fictitious high returns on these platforms.

The victims of this case are primarily U.S. residents, with at least 28 victims and total losses amounting to $2.9 million.