SEC charges 3 people, 5 companies with hog butchering scams

“Relationship investment scams, including those involving crypto-asset investments, pose a risk of catastrophic harm to retail investors, and the threat is growing rapidly as these scams become more popular among fraudsters,” said Gurbir S .Grewal, Director of SEC Division of SEC. Execution in a press statement. “In these two cases, we allege that fraudsters created fake crypto ecosystems that displayed false information to investors. Our claims serve as a reminder to the public to be on high alert for potential scams involving investment opportunities promoted by strangers on social media.”