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SEC Sues 7 Entities for $14M Crypto Investment Fraud

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The U.S. Securities and Exchange Commission (SEC) has sued seven entities, including three fake crypto platforms and four investment clubs, over a $14 million fraud. The groups used AI prompts and fake licensing claims to lure investors via WhatsApp and social media. Platforms like Morocoin Tech and Cirkor allegedly sold fake STOs and blocked withdrawals. The SEC is seeking penalties and the return of funds. A crypto project labeled as a good investment should avoid such deceptive tactics.
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