The U.S. Securities and Exchange Commission (SEC) obtains a default judgment of about $5.4–$5.5 million against NanoBit Limited and related affiliates in connection with an alleged crypto investment fraud. Multiple outlets report that the SEC alleges NanoBit promoted a purported crypto trading platform that did not perform real trades, while using misleading promotional activity to draw in investors. The SEC’s case describes a process in which investors are persuaded to transfer funds after communications that include social media promotion and WhatsApp groups. According to the allegations summarized across the reports, investor money is diverted away from any trading activity and misappropriated, including transfers to accounts associated with the scheme, such as Hong Kong bank accounts. One report states the scheme targets at least 18 investors between 2023 and 2024. The final court ruling orders the SEC-sought monetary judgment, reported as approximately $5.4 million or $5.5 million depending on the outlet’s figure, along with penalties and fines tied to the alleged misconduct.