The US Securities and Exchange Commission (SEC) won a final victory in legal proceedings against the organizers of the fraudulent crypto platform NanoBit. The East District Court of New York rendered a judgement in absentia, finding NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., Zhao Tropical Deli Inc., and entrepreneurs Jianzhe Liu and Hua Zhao guilty of investment fraud.

As the defendants did not appear in court and raised no objections, the court imposed severe penalties. Total fines and penalties exceeded $5.5 million: NanoBit Limited was required to pay about $1.8 million, while the other three companies received fines of $1.2 million each. In addition, individuals were prohibited from issuing and selling securities, and Liu and Zhao were allowed to trade exclusively on their personal accounts.

The scheme of fraudsters operated from September 2023 to June 2024. The attackers found victims in WhatsApp groups, introduced themselves as financial experts and lured them to the NanoBit platform. The exchange mimicked trade and profit growth, but when attempting to withdraw funds, users faced blockages. The scammers also promoted fake ICOs and falsely claimed that the affiliate NanobitUS Securities had a brokerage registration.

As a result of the criminals' actions, 18 investors suffered and lost almost a million dollars. Stolen funds in fiat and cryptocurrency were transferred from the US to accounts in Hong Kong. In parallel with this case, law enforcement agencies of other countries also continue the fight against crypto-crime: previously, the authorities of Thailand issued a warrant for the arrest of businessman Van Chen, suspected of illegal mining and money laundering.