The U.S. Securities and Exchange Commission said on Sept. 29 that it has sued two investment advisers over an alleged $15 million crypto asset fraud conducted through WhatsApp. According to the regulator, the pair used purported crypto-related investment opportunities as a cover to solicit money from investors through the messaging app. The SEC alleges that, instead of being used for the stated purpose, the funds were diverted for other uses. The case adds to the agency’s enforcement actions involving digital-asset schemes promoted through online communication channels. The announcement cited the alleged misuse of investor funds as a central part of the complaint.
The U.S. Securities and Exchange Commission on Sept. 29 said it had sued two investment advisers in connection with an alleged $15 million crypto asset fraud carried out through WhatsApp.
According to the SEC, the two men used purported crypto-related investment opportunities as a pretext to raise money from investors through the messaging app WhatsApp. The regulator alleges that the funds were diverted to other uses.
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