TechFlow News, June 30. According to disclosures on the official website of the U.S. Securities and Exchange Commission (SEC), the U.S. District Court for the Eastern District of New York issued a default final judgment on the NanoBit crypto fraud case on June 16, 2026, involving four entities and two individuals. It is reported that since September 2023, the fraud participants disguised themselves as financial professionals through WhatsApp groups, inducing investors to deposit funds into the fake crypto trading platform NanoBit, and promised high returns with fake ICO projects.
The platform falsely claimed that its affiliated institution NanobitUS Securities was an SEC-registered broker-dealer; in reality, no real transactions ever occurred on the platform. Over $2 million of investor funds were transferred to Hong Kong bank accounts, and hundreds of thousands of dollars worth of crypto assets were misappropriated. The final judgment requires the defendants to pay a total of over $5 million in fines, disgorgement, and interest, and permanently prohibits them from violating relevant securities laws.
