SEC Wins $5.5M Default Judgment in First Crypto Romance-Scam Case Against NanoBit
By
Mehjabeen Arsiwala
Summary
The SEC won its first romance-scam case involving cryptocurrency, with a New York court ordering NanoBit Limited and five other defendants to pay over $5.5 million in penalties for operating a fake crypto investment platform that defrauded victims through relationship-based schemes. The default judgment was entered in June 2025 after defendants failed to appear in court.
Source
Twitter / XSEC Wins $5.5M Default Judgment in First Crypto Romance-Scam Case Against NanoBityellow.comKey quotes
· 3 pulledThe SEC won its first relationship-scam case after a court ordered the operators of a fake crypto platform to pay more than $5.5 million.
The U.S. District Court for the Eastern District of New York entered a final judgment by default on Jun. 16 against NanoBit Limited and five other defendants who never appeared to contest the allegations.
NanoBit alone must pay roughly $1.79 million in disgorgement, interest and a civil fine.
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