The SEC just closed the book on its case against NanoBit Limited. A New York federal court entered a final judgment ordering the crypto platform and its affiliates to pay over $5.4 million in penalties, disgorgement, and interest.
NanoBit was running a fake trading platform. Operators impersonated financial pros in WhatsApp groups, luring at least 18 investors into depositing funds between 2023 and 2024. The money never went anywhere near a real trade — it got wired to bank accounts in Hong Kong. Investors who tried to withdraw were hit with excuses and hefty fees. Some got kicked out of the WhatsApp groups entirely for asking too many questions.
The court found NanoBit violated US securities laws and slapped permanent injunctions on the defendants. NanoBit itself owes nearly $1.8 million in combined fines, disgorgement, and interest. Three affiliates — Radiant Horizons, Sweet Karma, and Zhao Deli — each face $1.18 million fines. Orchestrator Jiajie Liu was hit with roughly $120,000 in penalties.
This is part of a broader pattern. The SEC has been cracking down on crypto fraud even as it softens its overall regulatory stance toward digital assets. Recent cases include a Texas man who raised $12 million using fake AI trading bots and an executive who pulled in $16 million through a token called Bitcoin Latinum.
The NanoBit case also involved fake ICOs and the false claim that its affiliate, NanobitUS Securities, was an SEC-registered broker. It wasn’t. The whole thing was a front from start to finish.
