SWINDLERS POSE AS WHATSAPP GURUS, STEAL MILLIONS IN FAKE CRYPTO SCAM!

SEC v. NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., et al. — U.S. Securities and Exchange Commission Litigation Release No. 26576, dated June 29, 2026.

The SEC charged NanoBit Limited and four other entities and two individuals with operating a relationship investment scam. They allegedly used social media to gain investors' trust, promoted a fake crypto platform called NanoBit, and stole over $2 million in funds and crypto assets. The court entered a default judgment, ordering the defendants to pay over $2.4 million in disgorgement, interest, and penalties.

In Plain English

Imagine someone you met online, maybe on a social media app, seemed really nice and knowledgeable about investing. They told you about a special crypto trading platform called NanoBit, saying it was super safe and could make you rich. They even pretended to be from a company registered with the SEC. But it was all a lie! They weren't real investors, and NanoBit wasn't a real trading platform. They stole your money and crypto, sending it to overseas accounts. The SEC stepped in and got a court order for them to pay back the money they stole, plus extra penalties.

Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.

How the Alleged Scheme Worked

1. Building Trust Online From at least September 2023 to June 2024, defendants worked together, posing as financial industry professionals on social media apps like WhatsApp. They joined investor groups to build trust and confidence with potential victims.
2. Promoting the Fake Platform Once trust was established, the defendants encouraged investors to deposit money into a supposed crypto asset trading platform called NanoBit. They falsely claimed that NanoBit's affiliate, NanobitUS Securities, was registered with the SEC to make the platform seem legitimate.
3. Pushing Fake Investments The supposed financial professionals then promoted fake initial coin offerings (ICOs) on the NanoBit platform. They promised investors substantial returns to entice them into these fraudulent investment opportunities.
4. Stealing Investor Funds In reality, no transactions occurred on the NanoBit platform. Instead, the defendants stole investors' money, wiring over $2 million to bank accounts in Hong Kong and misappropriating hundreds of thousands of dollars worth of crypto assets.

The Enforcement Action

On June 16, 2026, the U.S. District Court for the Eastern District of New York entered a final judgment by default against NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., Zhao Tropical Deli Inc., Jiajie Liu, and Hua Zhao. The judgment permanently enjoins the defendants from violating securities laws and orders NanoBit Limited to pay $532,649 in disgorgement, $81,957 in prejudgment interest, and a $1,182,251 penalty. Radiant Horizons, Sweet Karma, and Zhao Deli were each ordered to pay a $1,182,251 penalty. Liu was ordered to pay $60,603 in disgorgement, $9,485 in prejudgment interest, and a $50,000 penalty. Zhao was ordered to pay $4,500 in disgorgement, $704 in prejudgment interest, and a $50,000 penalty.

Named in this action: NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., Zhao Tropical Deli Inc., Jiajie Liu, Hua Zhao.

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