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The SEC Filed A Lawsuit Against BKCoin For An Alleged $100 Mil | Crypto Futures Trading

The SEC Filed A Lawsuit Against BKCoin For An Alleged $100 Million Encrypted Asset Fraud Scheme

The
United States Securities and Exchange Commission (SEC) has made public the fact that it has initiated an emergency action against BKCoin Management, a hedge fund that specializes in cryptography, for schemes using crypto assets. Reports indicate that the company intends to use user cash to make an investment of one hundred million dollars in encrypted assets.

According to the SEC complaint, BKCoin and Kang informed investors that their funds would be utilized largely to trade cryptocurrency assets, and that BKCoin would create returns for investors through separately managed accounts and five private equity funds. The defendant disregarded the fund structure and mingled Investor assets in order to make Ponzi payments to fund investors totaling more than $3.6 million. BKCoin received roughly $100 million from at least 55 investors between October 2018 and September 2022 to invest in encrypted assets.

Source

https://t.me/Crypto_Futures_Trading