BlockBeats news, on September 18, CoinDesk reported that the US SEC accused three individuals and five companies of “pig killing” fraud. This is a trust-based investment scam, where fraudsters make friends with victims through text-based social media applications, gain their trust and convince them to invest large amounts of money in fictitious encryption platforms, then steal their funds and disappear.
This enforcement action is the SEC’s first against this type of cryptocurrency scam.
