On December 22, 2025, the Securities and Exchange Commission today filed suit against purported crypto asset trading platforms Morocoin, Berge Blockchain and Cirkor. The SEC filed the suit in the US District Court for the District of Colorado. The suit also included investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation. The SEC alleges they defrauded retail investors out of more than $14 million in an elaborate investment confidence scam.
The SEC press release states, “This matter [the SEC complaint] highlights an all-too-common form of investment scam that is being used to target U.S. retail investors with devastating consequences.” The complaint alleges a multi-step fraud that attracted victims with social media ads. The perpetrators then built victims’ trust in group chats where fraudsters posed as financial professionals and promised investment tips. The perpetrators then convinced victims to put their money into fake crypto asset trading platforms where it was misappropriated.
Laura D’Allaird, Chief of the Cyber and Emerging Technologies Unit, heads the prosecution. She states, “Fraud is fraud, and we will vigorously pursue securities fraud that harms retail investors.”
The alleged fraud highlights the risks investors take by investing with firms found through social media. The SEC warns investors of these perils based upon the Morocoin allegations.
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