Platforms: Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., Cirkor Inc.
Investment Clubs: AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., Zenith Asset Tech Foundation
Investigation Status: Active — Federal Charges Filed
Alleged Investor Losses: $14+ Million
On December 22, 2025, the Securities and Exchange Commission filed charges against three crypto trading platforms and four investment clubs for swindling retail investors out of more than $14 million in a typical investment confidence scam. The case explains, in plain English, just how social media, fake AI clout, and fake crypto trading sites come together to form a scam that hits crypto investors in the United States particularly hard.
How the Scheme Worked
According to the SEC complaint, from January 2024 to January 2025, the four investment clubs operated on WhatsApp and attracted investors via social media ads. The investment clubs gained their investors’ trust by claiming that the investment tips they provided were AI-generated. The investment clubs then convinced their investors to open and fund investment accounts on three crypto trading platforms: Morocoin, Berge, and Cirkor. The investment clubs and the crypto trading platforms claimed that they had government licenses.
The investment clubs and the crypto trading platforms offered “Security Token Offerings,” which were claimed to be issued by real companies. However, there was no trading on the crypto trading platforms. The platforms were fake. Moreover, there were no Security Token Offerings and no companies that issued the Security Token Offerings.
The final layer of the fraud was particularly cruel: when investors tried to withdraw their funds, the defendants demanded that they pay upfront fees—classic exit scam tactics to get their hands on more of their victims’ money after they’d lost their principal investments.
The Social Engineering Pipeline
This case is interesting because it shows you in detail just how modern cryptocurrency scams work. Laura D’Allaird, head of the SEC’s Crypto Assets and Cyber Unit, explains: “The scheme begins with enticing ads on social media platforms. The next step is to gain trust in group chats with fraudsters posing as financial experts who guarantee profits with AI-generated tips. Finally, they convince their victims to invest in fraudulent cryptocurrency trading platforms.”
The use of AI to create trust is perhaps one of the most interesting aspects of this case. The scammers didn’t claim to be financial gurus themselves—instead, they relied on AI to provide them with wise investment advice, capitalizing on people’s relatively new but sometimes naive trust in AI technology.
Red Flags Present Throughout
Multiple warning signs were visible from the outset, though they were apparently not enough to deter victims:
- Unsolicited contact via social media and WhatsApp
- Promises of AI-generated investment tips with high returns
- Platforms claiming to have government licenses without providing verifiable registration details
- Pressure to move funds quickly into unfamiliar trading platforms
- Advance fee demands when attempting withdrawals
Each of these tactics is documented in the SEC and CFTC public investor alerts on crypto scams are still being employed, even though they have already been documented. The reason, of course, is simple: social proof, pressure, and tech-heavy credibility can often outpace even rational, thoughtful evaluation.
Verification Status: UNREGISTERED — CONFIRMED FRAUDULENT
Three trading platforms, Morocoin, Berge, and Cirkor, are all confirmed fraudulent. They are unregistered with the SEC, CFTC, or FinCEN, and they are not legitimate trading platforms. Avoid them at all costs. If their websites are up, avoid them. Any money put into them is essentially gone, although victims might be able to get restitution if the SEC goes after them and attempts to recover assets.
The four investment clubs, AI Wealth, Lane Wealth, AI Investment Education Foundation, and Zenith Asset Tech Foundation, are similarly unregistered and fraudulent. They have no legitimate legal status as investment advisory or financial services organizations.Fintvia Assessment: This case is a perfect example of the modern crypto confidence scam: social media outreach, fake AI legitimacy, fake regulatory compliance, fake trading platforms, and exit scams that require investors to pay upfront fees. The scam raised around $14 million from retail investors in a year. This is a perfect example that even the most familiar scam tactics can be extremely successful when combined with a sense of tech authority and social intelligence. Investors should assume that any investment offer received via messaging apps is a scam unless verified through independent and credible regulatory checks.
